Citing concerns about the Federal Housing Administration's (FHA) low capital reserve ratio and its 2013 bailout, senators Bob Corker (R-Tennessee) and David Vitter (R-Louisiana) are calling on the Obama administration to reconsider its plan to cut FHA's annual mortgage insurance premium by half a percentage point.
Read More »FHA Issues Update on Premium Cuts for In-Process Loans
In a mortgagee letter issued Friday, HUD announced that the reduction in annual premiums—which will bring premiums down to 0.85 percent on most FHA loans—will affect mortgages with case numbers assigned on or after January 26.
Read More »FHA Cost Cut Draws Mix of Praise, Skepticism
A day after the White House announced plans to cut the Federal Housing Administration's (FHA) mortgage insurance premium by 50 basis points, politicians and commentators are still wrestling with the reduction's potential impact on the housing market, the mortgage insurance industry, and the agency itself.
Read More »Updated: Obama Announces Cuts to FHA Insurance Premiums
The White House announced Wednesday that the Federal Housing Administration (FHA) will reduce mortgage insurance premiums in an effort to boost U.S. homeownership. The announcement is welcome news to many of housing's biggest trade organizations, who have been vocal in the past few months about the consequences of higher premiums.
Read More »FHA Loan Limits to Remain Unchanged in 2015
The Federal Housing Administration (FHA) announced Friday it will leave loan limits unchanged for the highest- and lowest-cost housing markets in 2015. For most high-cost housing markets, the maximum allowable amount for an FHA loan will stay at $625,000, a threshold first set at the start of this year.
Read More »Finalized MI Requirements to Land in Coming Months
Months after the Federal Housing Finance Agency (FHFA) first unveiled a rule establishing eligibility requirements for private insurers, the agency informed some of the nation's top firms it doesn't plan to release a finalized rule until close to the end of Q1 2015 or later, according to an announcement from U.S. Mortgage Insurers (USMI).
Read More »FHA’s Insurance Fund Back in Black
Following an independent review of its finances, FHA reported to Congress Monday that its Mutual Mortgage Insurance (MMI) Fund is valued at $4.8 billion for the fiscal year 2014, a step up from last year's shortfall of $1.3 billion.
Read More »Arch MI Announces Integration with Ellie Mae’s Encompass
Private mortgage insurance provider Arch Mortgage Insurance Company is partnering with Ellie Mae to offer lenders a more streamlined mortgage insurance ordering process, the companies announced.
Read More »National MI Employs New SVP of Field Sales
University of Massachusetts graduate Norm Fitzgerald has been named the new SVP of field sales at National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc.
Read More »Mortgage Insurers Offer Mixed Reactions to FHFA Reqs
The mortgage industry had a lot to say late last week following the release of new draft standards for private mortgage insurers to work with GSE loans—and not all of the reactions were positive. U.S. Mortgage Insurers (USMI), a trade group comprised of a number of member insurers, was quick to lend its support in a statement, though not all member companies agreed.
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