#fha

#fha

The Mortgage Insurance Freedom Act aims to alleviate FHA borrowers' mortgage insurance costs at 78% LTV, enhancing affordability and equity accumulation.

The FHA facilitates remote communication between lenders and defaulting borrowers through its new mortgage guidance, acknowledging the effectiveness of virtual methods introduced during the pandemic.

FHA updated its Catalyst EAD module to improve appraisal processing, moving away from outdated systems, indicating a focus on modernization.

The complex nature of reverse mortgages necessitates thorough counseling for borrowers and advisers, especially in changing interest rate environments.

FHA Commissioner Julia Gordon highlighted the release of the updated HUD Handbook as a major achievement in enhancing the HECM program's consistency and quality.

The FHA's ML 2024-18 updates interest rates for HECM claims and introduces a process for adjusting debenture interest payments.

The HECM program shows strong performance despite challenges, thanks to strategic changes and home-price appreciation.

Higher funding for FHA and Ginnie Mae is crucial for supporting homebuyers, especially first-time buyers, in today's challenging housing market.

The limit for federally backed reverse mortgages is increasing to $1,209,750 in 2025, enhancing access for older homeowners.

FHA's HECM limit for 2025 is set at $1,209,750, but its impact on the market remains uncertain.

FHA establishes a permanent program for selling seriously delinquent FHA-insured mortgages to enhance recoveries and support the Mutual Mortgage Insurance Fund.

FHA requires lenders to report cybersecurity breaches within 36 hours of detection, an extension from the previous 12-hour requirement.

FHA Connection portal experienced outages due to a global tech outage affecting major U.S. tech providers.

FHA increase in HECM limit enhances borrowing options for homeowners, though opinions on its impact amid high interest rates vary.

The FHA's reverse mortgage program has maintained a positive capital ratio for four consecutive years, showing improved financial stability.

HECM endorsements rose by 11.1% in October, signaling optimism in the reverse mortgage market.

Positive interest rates and FHA case number assignments are boosting industry performance.

FHA has temporarily waived the 15-day occupancy requirement for 203(k) mortgages in response to hurricanes Helene and Milton.

FHA has extended the foreclosure moratorium for hurricane victims to aid recovery efforts, reflecting increased support during extreme weather events.

FHA reinforces loss-mitigation options for mortgage lenders and borrowers in major disaster areas.

The Department of Housing and Urban Development operates efficiently and benefits taxpayers without direct funding, primarily through borrower premiums.

The FHA's Mutual Mortgage Insurance Fund achieved a robust financial year with a capital reserve ratio of 11.47%.

The percentage of first-time homebuyers using FHA insurance remained consistent, reflecting strong support despite market challenges.

NRMLA is advocating for HUD to align its cybersecurity reporting requirements with those of Ginnie Mae, ideally extending the notification period for incidents.

The Federal Housing Administration (FHA) computer systems, including FHA Connection, have been restored following a global tech outage on Friday.