Gov't Affairs, Govt - Nation, Govt - State of Colorado

Nation: NAR Proposes Changes to Condo Certification Requirements

On November 28, 2016, NAR submitted a comment letter to the Federal Housing Administration (FHA) regarding proposed changes to FHA Condominium certification requirements. Many of the proposed changes align with areas REALTORS® have expressed a need for more lenience and reflects NAR advocacy on these matters. The NAR letter specifically asks FHA to: Remove the… Continue reading Nation: NAR Proposes Changes to Condo Certification Requirements

Gov't Affairs, Govt - Nation

Nation: FHA Fund Improves

On November 15 the Federal Housing Administration (FHA) released its Annual Report to Congress and the FY2016 Actuarial Review of the Mutual Mortgage Insurance Fund Forward Loans.  The review shows that the Fund's capital reserve ratio has reached 2.32 percent and has improved by $43.9 billion since FY 2012.  This is the second year in… Continue reading Nation: FHA Fund Improves

Gov't Affairs, Govt - Nation

Nation: HUD Proposes Condo Rule

When H.R. 3700, the “Housing Opportunity Through Modernization Act,” was signed into law earlier this year, the Department of Housing and Urban Development was given notice that they had 90 days to weigh in on regulations related to Federal Housing Administration financing for condominiums before changes automatically went into effect. These included rules regarding owner-occupancy… Continue reading Nation: HUD Proposes Condo Rule

Gov't Affairs, Govt - Nation

Nation: Feds Announce Changes to PACE Loans

The Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) announced changes to the treatment of Property Assessed Clean Energy (PACE) loans. This new guidance, which goes into effect immediately, states that PACE loans will remain in a subordinated position on most FHA mortgages, in line with long-standing guidance from the Federal Housing Finance… Continue reading Nation: Feds Announce Changes to PACE Loans

Gov't Affairs, Govt - Federal, Govt - Nation, Govt - National Assoc. of Realtors® (NAR)

FHA Announces Changes to Condo Rules

Federal Housing Administration Principal Deputy Assistant Secretary Ed Golding joined National Association of Realtors® President Chris Polychron to announce changes to FHA condominium policies. NAR has long advocated for broad improvements, arguing that existing policy is overly restrictive and keeps many consumers from buying and selling a home. Golding said the changes will be similar… Continue reading FHA Announces Changes to Condo Rules

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

FHA Announces Reduction in Mortgage Insurance Premiums

In January President Obama announced that the Federal Housing Administration (FHA) would reduce FHA annual mortgage insurance premiums (MIP) by 50 basis points.  This reduction is a victory for the National Association of REALTORS whose members have called for lower fees on FHA loans since early 2014. NAR raised concerns about the costly premiums to… Continue reading FHA Announces Reduction in Mortgage Insurance Premiums

Gov't Affairs, Govt - Nation

FHA Confirms 203k Loans OK for Mitigation

On June 24, the FHA responded to a request from NAR and other groups, regarding the use of the 203k rehabilitation/renovation loan program for flood mitigation.  In the letter, dated February 6, 2014, NAR and the coalition asked FHA to confirm the eligibility of the Federal Housing Administration's FHA Section 203k program for the rehabilitation… Continue reading FHA Confirms 203k Loans OK for Mitigation

Gov't Affairs

HUD Proposes Elimination of FHA Post-Payment Interest

On March 13, 2014, the Department of Housing and Urban Development (HUD) issued a proposed rule to eliminate Federal Housing Administration (FHA) post-payment interest charges. The policy change would prohibit mortgagees from charging borrowers interest on home mortgages for days or weeks after a principal balance pay-off. The proposed rule will align HUD policy with… Continue reading HUD Proposes Elimination of FHA Post-Payment Interest

Gov't Affairs, Govt - Nation

HUD Announces Changes to FHA

On January 30, 2013, the Federal Housing Administration (FHA) announced a series of changes that manage risk and further strengthen the heath of FHA’s Mutual Mortgage Insurance Fund (MMI Fund): ~ The Standard Fixed-Rate Home Equity Conversion Mortgage (HECM) and Saver Fixed Rate HECM pricing options will be consolidated.  This change will be effective for FHA… Continue reading HUD Announces Changes to FHA

Govt - Federal, Govt - Nation

President Calls for More Re-fi Opportunities

In his State of the Union address President Obama mentioned his latest plan to revitalize the housing industry. The program would give responsible homeowners the chance to save $3,000 a year ($250 a month) by refinancing. He said the modifications to the existing HARP (Home Affordable Refinance Program) would make the program more accessible –… Continue reading President Calls for More Re-fi Opportunities