Tag Archives: FHA

Rumors of a new government-led mortgage refinancing program have begun to surface. DS News has received word from sources inside the administration and from high-ranking executives at some of the largest banks, confirming that the White House is indeed considering a refi push that would allow homeowners to lower their monthly mortgage obligations by locking in today's rock-bottom interest rates. Some industry insiders are viewing the move as a concession by the federal government that its existing housing programs aren't doing enough.

The Federal Housing Administration's Mortgagee Review Board (MRB) is ruling with an iron fist. So far this year, the MRB has taken action against almost 1,500 FHA-approved lenders who failed to meet its requirements, according to a notice published Monday in the Federal Register. Of the lenders facing penalties from the MRB, 905 have lost FHA approval for a period of one year. The federal agency reached a $700,000 settlement agreement with CitiMortgage over allegations that the lender failed to accurately report loan delinquencies.