Tag Archives: Federal Housing Administration (FHA)

The FHA has issued its Annual Report to Congress for fiscal year 2023, highlighting the impact of insurance premium reduction, assistance for approximately two million struggling homeowners, and support of underserved borrowers and communities.

The FHA has removed a valuation roadblock to increase the availability and affordability of manufactured housing as part of the Biden Administration’s Housing Supply Action Plan. Here’s how that could impact the industry.

The FHA has released comprehensive guidance for the Home Equity Conversion Mortgage program to enhance delivery for seniors choosing to age in place in their own homes.

FHFA Director Sandra L. Thompson noted, "Today's announcement exemplifies our commitment to developing a more efficient and equitable valuation system that supports liquid and sustainable housing finance."

The new ADU policy will expand financing options for borrowers to bolster the supply of affordable housing and assist families in creating generational wealth.

“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.