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

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com 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 MortgageDaily.com.

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

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

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

Press Releases
Reports and announcements from MortgageDaily.com.

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.

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 Wire

Recent FHA activity

August 28, 2008

By MortgageDaily.com staff

As FHA lenders grapple with changes to premium prices, one company is helping mortgage companies comply with government loan requirements while another has published a 1,000-page guide for originating, processing and underwriting FHA-insured loans.

Risk-based mortgage insurance premiums on loans insured by the Federal Housing Administration will be suspended on Oct. 1 for at least one year, a notice from the Department of Housing and Urban Development said. The suspension is required under H.R. 3221, The Housing and Economic Recovery Act of 2008, which was signed into law on July 30.

Risk-based premiums were implemented on July 14.

When the housing bill was passed, Anne Canfield, executive director of the Consumer Mortgage Coalition, warned that for many lenders that had already changed their systems and implemented the risk-based pricing program "it will be nearly impossible to reverse it."

"It is unlikely that many lenders simply will not do FHA loans for one year," Canfield said in a statement. "At a minimum, it will be four to five months before they can do FHA loans."

HUD said upfront premiums will be 1.75 percent on purchase-money mortgage and full-credit qualifying refinances beginning on Oct. 1. The upfront premium for streamline refinances will be 1.50 percent, while the premium will be 3.00 percent for refinances of delinquent loans under FHASecure.

Annual premiums on purchase-money loans, full-qualifying refinances and streamline refinances will range from 0.25 percent to 0.55 percent, though 15-year loans with loan-to-values at or below 90 percent will require no premium. On FHASecure refinances, annual premiums will be 0.55 percent on loans with LTVs higher than 95 percent and 0.50 percent for all others.

In other FHA news, Interthinx Inc. announced it provides fraud-prevention and compliance services designed specifically for FHA loans. Among the company's services are income verification, identity validation, occupancy status, automated regulatory compliance checks and third-party certifications. It also has created numerous red flags for challenged FHA underwriters.

"Although FHA lending programs are clearly presenting profitable revenue opportunities in the residential mortgage marketplace, lenders are at risk if they mistakenly loan outside of strict requirements," Interthinx executive Mike Zwerner said in the statement.

NAMP Publishing Group has released the 2008 FHA/VA Survival Kit, which it says provides proven methods, tips, and step-by-step instruction on FHA topics, a press release today said. The 1,000-page guide covers FHA loan requirements, credit analysis and appraisal requirements.

The author of the Survival Kit, Bonnie Hild, has spent 25 years as an FHA direct endorsed underwriter, according to the statement.


Housing Bill Now Law
President Bush has signed a massive housing bill into law. The legislation includes provisions for a stronger agency regulator, a first-time homebuyer tax credit and foreclosure assistance.

H.R. 3221 signed by President
Housing Bill Approved
Landmark housing legislation has made it through both houses of Congress and is now on its way to the president's desk.

HUD Provides Details on Expanded FHASecure
The Department of Housing and Urban Development released details on enhancements to FHASecure.

New FHA Premiums Slated for Summer
Risk-based premiums on subprime loans insured by the Federal Housing Administration will be implemented within two months.

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.

Mortgage Insurance News

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