Feds: Deutsche Bank to Pay $202M for ‘Reckless’ Lending
Deutsche Bank and its lending subsidiary will pay $202 million as part of a settlement with federal authorities over reckless lending and false claims tied to federally insured loans.
Deutsche and its Mortgageit ...
HUD Debars Four Reverse-Mortgage Fraudsters
U.S. housing officials have indefinitely disbarred three South Florida mortgage loan officers and a Pittsburgh title agent after criminal convictions for defrauding elderly borrowers, mortgage lenders and the Federal ...
FHA Price Cuts to Save Refinancing Borrowers $3K Annually
The Federal Housing Administration will lower its upfront premiums for mortgage insurance and reduce annual fees for certain borrowers who qualify for streamlined refinancing into today’s historically low interest ...
FHA’s Higher Fees to Bolster Mortgage Insurance Fund by $1 Billion
The Federal Housing Administration will increase its annual mortgage insurance premium by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount.
Upfront premiums will also increase ...
Lenders Add Bigger Fannie, Freddie Fee – Thanks to Payroll Tax Cut
Lenders have started 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 two-month extension of the payroll ...
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 ...
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