FHA commissioner, HUD counseling head on serving seniors with reverse mortgages

FHA commissioner, HUD counseling head on serving seniors with reverse mortgages

Federal Housing Administration (FHA) Commissioner Julia Gordon and David Berenbaum, deputy assistant secretary for the Office of Housing Counseling at the U.S. Department of Housing and Urban Development (HUD), returned to this... Read more »
FHA announces updates to Catalyst software’s appraisal module

FHA announces updates to Catalyst software’s appraisal module

The Federal Housing Administration (FHA) announced on Friday that it has updated the Electronic Appraisal Delivery (EAD) module of its Catalyst software platform, following initial agency efforts to require appraisal submissions on... Read more »
FHA announces updates to Catalyst software’s appraisal module

FHA head says more housing counselors should have reverse mortgage training

Federal Housing Administration (FHA) Commissioner Julia Gordon thinks that more U.S. Department of Housing and Urban Development (HUD)-approved housing counselors should be trained to work with Home Equity Conversion Mortgage (HECM) borrowers,... Read more »
FHA announces updates to Catalyst software’s appraisal module

FHA proposes updates to partial claim payoff statements

The Federal Housing Administration (FHA) this week published a newly proposed Mortgagee Letter on its Single Family Drafting Table, which would align mortgage borrowers and originators in their understanding of how much... Read more »
FHA increases manufactured home loan limits in affordable housing push

FHA increases manufactured home loan limits in affordable housing push

The Federal Housing Administration (FHA) announced on Monday that it has raised lending limits for its Title I Manufactured Home Loan Program, a move designed to align the FHA with market forces... Read more »
FHA removes mandatory mortgage branch registration requirement

FHA removes mandatory mortgage branch registration requirement

The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register the branch offices where they conduct FHA... Read more »
FHA announces updates to Catalyst software’s appraisal module

CBO projects FHA to lose $7 billion in 2024 receipts; budget cuts could impact reverse mortgages

The Federal Housing Administration (FHA) faces a potential loss of roughly $7 billion in receipts in 2024, and a failure by Congress to come to terms on certain spending agreements could force... Read more »
Housing groups jointly sign letter urging full funding for FHA, Ginnie Mae

Housing groups jointly sign letter urging full funding for FHA, Ginnie Mae

A coalition of seven housing interest groups including the Mortgage Bankers Association (MBA), the Community Home Lenders of America (CHLA), the National Association of Realtors (NAR) and the National Reverse Mortgage Lenders... Read more »
FHA Mortgage Rates by Credit Score: 620, 700, 580, 640

FHA Mortgage Rates by Credit Score: 620, 700, 580, 640

FHA mortgage rates are typically higher than conventional mortgage rates, but they can be a good option for borrowers with lower credit scores or smaller down payments. The minimum credit score for... Read more »
CBC Mortgage Agency offers temporary rate buydowns on FHA loans

CBC Mortgage Agency offers temporary rate buydowns on FHA loans

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The... Read more »