Tag Archives: FHA

When the FHA announced numerous changes to its Single-Family Housing Policy Handbook last year, many in the industry were confused about the lack of clarity regarding the blurred lines between appraisals and inspections.

In the time period following the housing market collapse, private mortgage insurance was not easy to obtain. This left the door open for the FHA to step in to accommodate low-down payment borrowers and pick up more market share. But the tables have since turned.

The recent reduction in private mortgage insurance fees has made getting a mortgage loan a lot easier and may begin to pull high quality borrowers from the Federal Housing Administration.

For awhile, loan defects had settled down in the mortgage industry, but they appear to be making their way back into the market due to heightened risk from government loans.

Freedom Mortgage Corp., is the latest company to resolve claims that it violated the False Claims Act by knowingly originating and underwriting single-family mortgage loans insured by the FHA that did not meet the mortgage insurer's requirements.

The settlement stems from Wells Fargo’s participation in the Direct Endorsement Lender program, a federal program administered by the Federal Housing Administration. It is the largest recovery for loan origination violations in FHA history.

Bank of America's Affordable Loan Solution program provides an alternative for low-income borrower but despite being an innovative solution to market demand, industry analysts feel it does not provide enough competition to substitute the FHA completely.

Did former FHA Commissioner and Assistant HUD Secretary David Stevens, now MBA President and CEO, violate two separate statutes banning him from having contact with officials from his former agency?

Fifth Third Bancorp has agreed to pay nearly $85 million to resolve civil fraud claims regarding approximately 1,400 loans originated by the bank that were insured by the FHA.

Prominent Democrats on the Senate Banking and House Financial Services Committees recently brought concerns about the a Federal Housing Administration lending proposal that could make it easier for lenders with a criminal history to continue accessing taxpayer-backed mortgage insurance.