The coming surge in mortgage modification defaults
This article forecasts a surge in mortgage modifications in the wake of the coming expiration of foreclosure moratoriums — which will in turn lead to a rise in re-defaulting borrowers.
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Tag: Federal Housing Administration (FHA)
Suspended foreclosures, evictions due to COVID-19 impacts
This article covers the various efforts to keep Californians housed during this period of social distancing and economic uncertainty.
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FHA smooths the path for condo approvals
The FHA is now processing approvals for individual units in unapproved projects.
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California’s annual mortgage report card is out
Some noteworthy mortgage data is now available from the Home Mortgage Disclosure Act (HMDA).
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Lower LTVs required for FHA, VA cash-out refinances
Cash-out refinances on FHA mortgages will need a minimum of 20% equity.
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California-sponsored PACE program struggles with tax problems
Designed with noble intentions, Property Assessed Clean Energy (PACE) programs are actually causing more harm than good to homeowners.
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Different Treatment is Discrimination
Covers: Illustration of different lending treatment provided to a protected class of borrowers; Recovery under the Equal Credit Opportunity Act; Federal Housing Administration (FHA). More information about this topic is available @ firsttuesdayjournal.com.
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California’s heavy hitting lending institutions
As California’s housing recovery heats up, more loan originations are occurring across the state.
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Low FHA premiums aren’t all they’re cracked up to be
FHA-insured mortgages are meant to help renters with little cash become homeowners – but the real beneficiaries are sellers.
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Free webinar on reverse mortgages
Register for the free webinar with the NRMLA.
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Decreased annual MIP rates beginning January 27, 2017…just kidding
This just in: no new annual MIP rates, just old annual MIP rates.
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Qualifying for a mortgage continues to get easier
Mortgage credit is more accessible to some buyers more than others.
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Owner-occupancy requirements loosened for FHA-approved condo projects
The minimum owner-occupancy rate for some condos is lowered from 50% to 35%.
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Mortgage qualification rules for self-employed homebuyers
Rules and advice for transaction agents to guide self-employed buyers through the qualification process.
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Increased access to government-insured mortgages
It’s becoming easier to qualify for government-insured mortgages — conventional mortgages, not so much.
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Letter to the editor: Low down payment mortgage comparison
When is a low down payment a better choice than a traditional down payment? The answer depends on the homebuyer’s situation.
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Nonbank lenders originate minimum qualification mortgages a bit more frequently
Nonbank lenders originating FHA-insured mortgages are taking on higher risk of default, but is it really the return of subprime lending?
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FHA’s new condominium approval guidelines expand eligibility – and potential HOA mismanagement
The Federal Housing Administration’s new temporary approval guidelines for condominium projects make it easier to gain approval. However, it may also increase the FHA’s risk of defaults.
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Letter to the Editor: Is the FHA informed when a property is conveyed to an investor?
HUD has the right to call the mortgage if taken over by anyone other than an owner-occupant buyer.
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Statement of government-certified condominium status required in CID annual budget reports
Common interest developments need to include statements indicating whether they are certified by the Federal Housing Administration or the Department of Veterans Affairs in their annual budget reports.
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