Tag Archives: Federal Housing Administration (FHA)

“While the NFCI Credit index indicated that credit tightened in March, which reduced housing market potential, the credit tightening was modest and far from recent pandemic lows, and certainly nothing like the Great Financial Crisis period,” said Mark Fleming, Chief Economist at First American.

“Negative impacts from the COVID-19 pandemic continue to be experienced by many communities. HUD’s Fair Housing Initiatives Program partners are uniquely positioned to address the housing discrimination concerns of vulnerable populations,” said Demetria L. McCain, HUD’s Principal Deputy Assistant Secretary for Fair Housing and Equal Opportunity.

By helping reduce foreclosures and expanding loss mitigation options, HUD’s new rule seeks to help keep more in their homes in times of economic instability.

Pandemic-era loss mitigation plans have been expanded and extended by the FHA going forward. Click through to find out what that means for borrowers and servicers alike.

Both raw profits and return on investment have improved nationwide for 11 straight years, shooting up again in 2022 as the national median home price increased 10% to $330,000—another annual record.

“HUD is committed to making the appraisal process fair nationwide. We must eliminate bias in home valuations so that everyone can equally reap the benefit of wealth—and intergenerational wealth—that come along with homeownership,” said HUD Secretary Marcia L. Fudge.

A new repayment plan will allow mortgage servicers to offer homeowners impacted by COVID-19 up to five years to repay past-due property charges.

The maximum loan limits for FHA forward mortgages will rise in 3,222 U.S. counties next year, while in just 12 counties, loan limits will remain unchanged.

“I’m so proud of FHA’s work to make homeownership possible for our nation’s underserved households and communities,” said Federal Housing Commissioner Julia R. Gordon.

New research from HUD reveals the policy implications regarding small-dollar mortgages, which comprised less than 3.5% of overall home purchase originations in 2020.