twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

FHA News | Government Resources | M o r t g a g e e Letters | FHA Statistics
FHA, VA and HECM mortgage news. HUD and G i n n i e news also. Originations, servicing and FHA approval.

The FHA Insider

Recent FHA activity

July 15, 2009


One of the few areas with consistent growth recently has been the origination of loans insured by the Federal Housing Administration. As government and industry call for more FHA resources, lenders and service providers are capitalizing on the boom in FHA business.

First Federal Savings Bank turned to Wolters Kluwer Financial Services to help it become FHA approved, a recent news release said. Wolters said it helped the Evansville, Ind., bank obtain an FHA license and educate 14 employees onsite about FHA loan origination, processing, underwriting and servicing requirements.

"The complexity of the rules and regulations behind the FHA program can be extremely difficult for a lender without experience in this area to interpret," First Federal executive Monica Stinchfield was quoted as saying.

In prepared remarks for the National Association of Real Estate Editors Annual Conference in Washington, D.C., last month, U.S. Department of Housing and Urban Development Secretary Shaun Donovan said the Obama administration is asking Congress for the authority to endorse up to $400 billion in authorization for FHA insurance. Donovan noted that the request was made "in light of the substantial increase volume we've seen in the last two years."

Donovan reported that FHA market share has gone from less than 2 percent in 2006 to 24 percent today. He said FHA credit scores have increased to 692 from 626 a year ago.

"Given that our expectation that FHA loan volumes will continue to be high until the credit crisis passes, while we have requested expanded loan commitment authority for both FHA and Ginnie Mae, we will not be asking the American taxpayer to support FHA's single family program in the FY 2010 budget," the HUD chief stated.

A June 18 statement from the National Association of Realtors said rising FHA activity calls for increased support for FHA staffing and resources. The trade group called on the House Financial Services Subcommittee to consider provisions of S. 896, the Helping Families Save Their Homes Act of 2009, which was proposed in the U.S. Senate.

The recent confirmation of David H. Stevens as Federal Housing Commissioner was praised by the National Association of Home Builders. In a press release Monday, the group called Stevens "a strong and experienced leader."

NAHB estimated last month that an addition 40,000 purchase transactions will occur as a result of FHA's decision to allow state housing finance agencies to provide second mortgages that monetize the $8,000 tax credit. The move will enable borrowers to use the funds toward down payments and closing costs on FHA-insured loans. In all, NAHB projected 200,000 home sales from the tax credit.

Movation FHA SafeGuard automatically compares a lender's FHA data with government data throughout the origination process, a June 24 press release. The offering prevents oversights and monitors government policies and submits loans for FHA insuring automatically upon funding.

"We were able to instantly identify which loans were being shopped by brokers, easily corrected any loans that required changes to their MIP calculation factors, and eliminated the risk of having negative [Credit Alert Interaction
Voice Response System] results show up after initial checks," one Movation customer was quoted as saying.

Motivity Solutions Inc. said it originally announced Movation at the Mortgage Bankers Association's Government Housing and Loan Production Conference on June 12 and June 13 in Washington, D.C. A "tremendous" response from "top FHA lenders" at the conference led to multiple agreements.

Quicken Loans hopes to lure FHA prospects with the release of a new online tool that helps FHA borrowers determine if they are eligible for FHA Streamline refinances.

Last month, Gold Star Mortgage Financial Group touted that it was ranked by HUD as the No. 9 FHA lender in Southeast Michigan.

Mark Revetta, chief executive officer of San Diego mortgage broker SD County Financial, reported that his company has seen record originations despite that San Diego County has been one "the-top 10 hardest-hit counties in the nation." Revetta attributed the growth to the combination of lower home prices and higher FHA limits.

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of in 2000.

e-mail: [email protected]

Political Mortgage News | Mortgage Laws
Mortgage people in politics. Political contributions by mortgage companies. Coverage of political support by lenders and executives. GSE lobbying and issues.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders