Posts with tag fha

This morning, the Federal Housing Administration officially announced long-promised news: the agency is moving to shore up its rapidly eroding insurance fund. And here's the deal: you the borrower will be paying for it. Starting this spring, borrowers who take out FHA-insured mortgages will pay an up-front fee of 2.25... Continue Reading »

Ah, the golden years. But in these post-crisis times, many seniors are spending more time worrying about the roof over their heads than what hobby to pick up next. Some seniors are among the millions of Americans facing foreclosure because they can't afford to continue making the payments. Others are struggling with... Continue Reading »

We know Fannie Mae and Freddie Mac continue to bleed billions of dollars. The two lost a total of $188.4 billion in the past nine quarters. The Federal Reserve has bailed them out to the tune of $1.1 trillion in home loan bonds bought by the Fed. The Treasury Department has bought another $191 billion and just gave Fannie... Continue Reading »

The Federal Housing Administration (FHA) recently announced new qualification rules for homeowners applying for FHA-backed mortgages. Pundits and journalists alike are debating these new rules and their possible effects when they go into effect sometime next year. What nobody seems to realize, however, is that lenders are... Continue Reading »

When Fannie Mae, Freddie Mac and the Wall Street mortgage-backed securities machine all went the way of King Kong and Godzilla last year, that left just one home finance giant standing: the Government National Mortgage Association, or Ginnie Mae. Ginnie Mae bundles together mortgages into securities, and backs their sale... Continue Reading »