Although it is said that actions speak louder than words, sometimes when the two come together it can have a powerful effect. Such is the case when it comes to the MBA’s Mortgage Action Alliance (MAA). This is a grass roots effort, supported by member firms and their employees, to help facilitate communication with our elected officials to promote industry…
More calls from the mortgage lending industry for FHA to reduce their annual mortgage insurance premiums. This one comes from the Community Home Lenders Association (CHLA) (MIP Cut). Who is the CHLA and why do they want another FHA premium cut? The CHLA is a national non-profit association of community-based mortgage lenders who, among other things, promote policies to help…
Pressure has been building recently from lawmakers and housing advocates for HUD to trim its condominium rules and regulations in order to assist prospective borrowers in obtaining FHA financing on condominium units. Many feel that there is too much paperwork involved with the current process of obtaining FHA project approval and re-certification and that many of the rules are too…
It is nice, for a change, to get some good news about the housing and related markets. Here’s some. According to HUD Secretary, Julian Castro, the health of the FHA insurance fund has significantly improved over last year (FHA Fund). This is believed to partly be the result of the previous 50 basis point reduction in the annual mortgage insurance…
If your Firm is involved with the origination of FHA loans, it is essential that you are aware of the more significant policy changes. These changes became effective for transactions that obtained their FHA case number on & after September 14, 2015. Admittedly, lenders have been recently focused on implementing the new TRID rules & requirements and many mortgage lender…
A million homes here, a million homes there. Pretty soon, we’re talking about a whole lot of home sales. Where is the housing market headed? It seems that MBA and Fannie have a slight disagreement on the issue (Housing Market). Everyone is projecting a rise in interest rates. MBA forecast is for a rise as soon as December. Both Fannie…
