Tag Archives: Federal Housing Administration (FHA)

The Low-Income First-Time Homebuyers (LIFT) Act will help reduce the racial wealth gap by allowing qualified buyers to build equity–and wealth–at twice the rate of a conventional 30-year mortgage.

Change by the FHA facilitates greater flexibility for lenders when underwriting multifamily transactions up to $120 million, marking the first increase in the threshold since 2014.

Multi-language translations of single-family mortgage documents in Chinese, Korean, Spanish, Tagalog, and Vietnamese are now available for lenders and servicers when working with borrowers with limited English proficiency.

In order to assist struggling borrowers amid an erratic mortgage rate environment, the FHA has proposed a plan to assist borrowers through temporary reductions to monthly mortgage payments for up to five years.

According to Ginnie Mae, April’s mortgage-backed securities issuance supported the financing of more than 112,000 households, including assisting more than 50,700 first-time homebuyers.

New policies set forth by the FHA in Mortgagee Letter 2023-10 will shorten the timeframe for mortgagees to receive Home Equity Conversion Mortgage assignment funds.

First-quarter mortgage-backed securities issuance by Ginnie Mae supported the financing of more than 281,000 households, including more than 126,000 first-time homebuyers.

As Ginnie Mae continues its search for a permanent COO, Laura M. Kenney has been named Senior Advisor for Strategic Operations, in addition to Britt Van being appointed as Special Advisor to the President.

According to a new report from First American, the Potential Home Sales Model for March revealed it is unlikely that the recent banking crisis will materially impact residential mortgage availability.

Approximately 358,000 homes may have sustained damage from hail and/or tornadoes on March 31, according to the latest findings from CoreLogic.