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 theContinue reading “Nation: NAR Proposes Changes to Condo Certification Requirements”
Tag Archives: Federal Housing Administration
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 inContinue reading “Nation: FHA Fund Improves”
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-occupancyContinue reading “Nation: HUD Proposes Condo Rule”
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 FinanceContinue reading “Nation: Feds Announce Changes to PACE Loans”
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 similarContinue reading “FHA Announces Changes to Condo Rules”
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 toContinue reading “FHA Announces Reduction in Mortgage Insurance Premiums”
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 rehabilitationContinue reading “FHA Confirms 203k Loans OK for Mitigation”
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 withContinue reading “HUD Proposes Elimination of FHA Post-Payment Interest”
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 FHAContinue reading “HUD Announces Changes to FHA”
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”
IRES MLS: Come Home to Colorado 