FHA

Reverse Mortgage Stability Bill Moves
   Legislation giving the Federal Housing Administration authority to stabilize the volatile federal reverse mortgage program clears the House and is sent to the Senate where a companion bill is under consideration.
posted 6/14/13 10:11 AM  read complete story

New FHA Mortgage Insurance Fees
   A prospective homebuyer will now have to pay more for a loan insured through the Federal Housing Administration. The mortgage insurance premium for an FHA loan increases to as high as 2.05% annually, compared to the 1.20% of the loan principal paid until March 31.
posted 4/3/13 12:41 PM  read complete story

Galante Hedges On FHA Tax Bailout
   Facing a challenge from House Financial Services Chairman Jeb Hensarling (R-TX) that the Federal Housing Administration is broke and needs a tax bailout, FHA Commissioner Carol Galante continues to emphasize the mortgage insurer is not in desperate financial straits, and policy steps she is taking will restore the agency’s financial
posted 2/13/13 7:31 PM  read complete story

GOP Fires Opening Salvo At FHA
   Vowing to reform the Federal Housing Administration in order to avert billions of dollars in losses, House Republicans initiate a series of hearings to investigate the FHA’s books, develop a strategy to reduce its mortgage footprint,and streamline its operations.
posted 2/6/13 4:54 PM  read complete story

Galante Confirmed, Faces Big Test
   After a year and a half as acting head of the Federal Housing Administration, the Senate confirms Carole Galante as federal housing commissioner and assistant HUD secretary for housing. The end of year move followed Sen. Tom Corker’s (R-TN) decision to lift his
posted 1/4/13 12:06 PM  read complete story

FHA Bailout Seen Possible
   Despite attempts to minimize a critical study of Federal Housing Administration risk finances, HUD Secretary Shaun Donovan tells the Senate Banking Committee there is no guarantee HUD won’t seek a taxpayer bailout of the mortgage insurance agency
posted 12/6/12 1:27 PM  read complete story

House Gives Nod To FHA Solvency
   Legislation designed to improve the Federal Housing Administration’s risk financial position sails through the House, but its fate in the Senate remains uncertain. Senate Majority Leader Harry Reid (D-NV) says that chamber will not consider routine legislation in the waning days of the session before Congress breaks -- tentatively set for Sept. 21 --
posted 9/12/12 4:15 PM  read complete story

Foreclosure Bailout Targets Four Cities
   Close on the heels of a similar program at Fannie Mae and Freddie Mac, the Federal Housing Administration seeks to attract investors to buy pools of troubled mortgages in four cities to help deplete its housing portfolio. Unlike the government-sponsored enterprises, the wholly
posted 7/18/12 4:45 PM  read complete story

FHA Serious Delinquencies Soar
   Seriously delinquent Federal Housing Administration loans surge 23.2% from last year’s levels, resurrecting political chatter that the agency will have to tap taxpayers for a bailout soon. The FHA capital risk fund has been nearly depleted for months and officials had estimated that it
posted 7/13/12 10:48 AM  read complete story

FHA Set To Sell Troubled Mortgages
   In a move to rid itself of delinquent home mortgages weighing down its $1 trillion loan portfolio, the Federal Housing Administration will begin selling more than 700,000 loans in default. The effort could thwart foreclosure for thousands of homeowners, the agency
posted 6/11/12 3:45 PM  read complete story