Changes apply to all FHA-insured single-family forward mortgages and reverse mortgages. At its core, HUD is tightening the connection between an appraiser’s state license and their ability to perform FHA work, while... Read more »
The discussion also coincides with a rise in private-label reverse mortgages, which according to New View’s estimates, now account for about 40% of market activity. New View addressed each of the 21... Read more »
The new limit also covers Freddie Mac’s special exception areas — Alaska, Hawaii, Guam and the U.S. Virgin Islands. The new limit, a $39,375 difference from last year, marks the 10th straight... Read more »
A coalition of six organizations representing mortgage companies and borrowers has sent a letter to the Federal Housing Administration (FHA), urging the extension of the current loss-mitigation waterfall to February 2026 while... Read more »
As the reverse mortgage industry prepares to say goodbye to the tumultuous year that is 2024, positive news for the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program — which... Read more »
Adjustment for rising home prices increases FHA ceiling in high-cost markets like New York, San Francisco and Washington, D.C., and raises the floor in low-cost markets to $524,225. Whether it’s refining your... Read more »
The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to... Read more »
The Federal Housing Administration (FHA) on Wednesday posted a proposed Mortgagee Letter (ML) that would add flexibility for people receiving rental income from “boarders” who pay for space in an existing dwelling... Read more »
Mortgage tech firm Candor Technology has expanded its Loan Engineering System (LES) to include Federal Housing Administration (FHA) loans. The company now fully automates underwriting decisions for FHA loans — minus collateral... Read more »
Despite 2024 being a challenging year for sales volume, the reverse mortgage industry is still encouraged by the engagement of the Federal Housing Administration (FHA) on matters related to the Home Equity... Read more »