Lenders Add Bigger Fannie, Freddie Fee – Thanks to Payroll Tax Cut
Lenders are already adding an increase in fees on mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration to new loans – a hike that will pay for the extension of the payroll tax cut.
The ...
Flipping Foreclosures: FHA Extends 90-Day Waiver Thru 2012
The Federal Housing Administration is extending for another year its temporary waiver of anti-flipping regulations, initially introduced in 2010 to facilitate the turnaround of foreclosed properties in hard hit ...
FHA to Offer ‘Short Refinance’ Option for Underwater Borrowers
The Federal Housing Administration will offer homeowners who owe more than their home is worth a new “short refinance” opportunity beginning Sept. 7, but there are several requirements that “underwater” ...
FHA to Tighten Credit Score Requirements for Borrowers
The Federal Housing Administration will require new borrowers to have a minimum FICO score of 580 to qualify for its flagship 3.5 percent down-payment program – and those with scores of less than 500 will no longer ...
FHA New Rule: Lenders Must Have $1 Million Net Worth
The Federal Housing Administration today announced new regulations to further protect itself from depletions in its insurance funds, including raising the minimum net worth requirement of all FHA-approved lenders ...
FHA Shuts Out Lenders RSA Financial, 1st Alliance Mortgage
The Federal Housing Administration has withdrawn its approval of Atlanta-based RSA Financial, Inc. and 1st Alliance Mortgage LLC of Houston, Texas – preventing the two lenders from originating and underwriting ...
Calif., Fla. Led in Homebuyer Tax Credits Claimed in FY 2009
UPDATED: April 4, 2010:
U.S. Treasury Officials today reminded potential first-time and repeat homebuyers that they have until April 30 to take advantage of up to $8,000 in tax credits that have already helped ...
FHA Chief: Mortgage Insurer is Not ‘the Next Subprime’ Crisis
The chief of the Federal Housing Administration insisted before a Congressional panel that his agency is not the next housing domino to fall, and that the FHA is on sound financial and policy footing as a result ...
Homebuyer Tax Credits Fail to Spur Existing Home Sales
Winter storms had some impact, but a 7.6 percent drop in the pending home sales index for January from the National Association of Realtors indicates expanded and extended homebuyer tax credits are not bolstering ...
Home Prices Stabilize, Rebound in Some Areas, NAR Says
Home prices stabilized in the fourth quarter of 2009, with the national median at $172,900 — 4 percent below the same quarter a year ago — but it’s the smallest decline in two years.
The survey ...
