The U.S. Department of Housing and Urban Development has begun selling off thousands of seriously delinquent mortgages insured by the Federal Housing Administration, a move that could save many distressed borrowers from losing their homes. But it also leaves thousands more who are saddled with equally distressed FHA... Continue Reading »
Nov 14th 2012 5:45PM
For the first time in its 78-year history, the Federal Housing Administration may need a government bailout to stay in operation, The Wall Street Journal reports. The FHA, which insures mortgage lenders against losses, is expected to report this week that it's close to exhausting its reserves and may need to turn to... Continue Reading »
Jul 9th 2012 12:00PM
By Tami Luhby NEW YORK -- The mortgage market appears to finally be stabilizing -- as long as you ignore loans backed by the Federal Housing Administration. Increasingly, FHA-insured loans are falling into foreclosure or serious delinquency, moving in the opposite direction of loans guaranteed by Fannie Mae and Freddie... Continue Reading »
Jun 18th 2012 12:40PM
By Jon Prior The Federal Housing Administration rescinded a rule that would have denied financing to potential homebuyers with ongoing credit disputes of more than $1,000, according to an alert sent to lenders Friday. The FHA quietly drafted the rule in March to mitigate risks to its emergency fund. The rule went into... Continue Reading »
May 9th 2012 11:30AM
LOS ANGELES -- Homeowners with a Bank of America mortgage have good reason to check their mailbox. The lender said Tuesday that it has begun mailing out letters to customers who may qualify to have their home loans reduced as part of a multistate settlement over alleged foreclosure abuses. The Charlotte, N.C.,-based... Continue Reading »
