Former Federal Housing Administration Commissioner Frank Cassidy identifies a multifamily premium cut as being among his accomplishments while in the post he recently departed, which raises the question as to whether he thinks a new, similar move is in order for single-family. Processing Content “What I’ll say is the FHA insurance fund is the strongest […]
Ex-FHA commissioner: Fund strong enough for rate cut Read More »
Federal Housing Administration Commissioner Frank Cassidy ended a leave of absence on Friday, announcing on social media that he would be permanently leaving the position. Processing Content “I’m excited to return to the private sector and get back to my passion of DOING DEALS,” he wrote in a LinkedIn post in which he also recounted
FHA commissioner Frank Cassidy resigns from post Read More »
The Federal Housing Administration is seeking feedback on its current single family minimum property requirements, after the Mortgage Bankers Association and others nudged the agency earlier this month. Processing Content The FHA published a request for information in the Federal Register Friday, looking for stakeholder comment on how to improve and modernize standards that have
FHA seeks feedback on how to improve property standards Read More »
The increased workload from recent changes in Federal Housing Administration-backed loan servicing means any future strategy to counter today’s rising numbers must include engagement to change borrowers’ mindset, mortgage leaders say. Processing Content Years of relief measures introduced during the COVID-19 pandemic, beginning with automatic forbearance following any stated financial hardship, created a change in
FHA servicers brace for slow, steady delinquency climb Read More »
Ginnie Mae President Joseph Gormley, who is also serving as acting commissioner of the Federal Housing Administration (FHA), said the counterparties participating in Ginnie Mae’s program have evolved significantly since the Great Financial Crisis, with greater exposure to independent mortgage banks (IMBs) that have invested heavily in governance and risk management. Still, he cautioned that
Ginnie Mae’s Joseph Gormley sounds the alarm on ‘risk-layered’ FHA portfolios Read More »
Applications for government-guaranteed or insured mortgages made up almost one-third of the week’s volume for the period ended May 1, the Mortgage Bankers Association said. Processing Content Rates for these loans tend to be lower. The Mortgage Bankers Association only provides rate data for the Federal Housing Administration-insured loan, which averaged 6.12% for the week,
2026 Top Producers of government-guaranteed mortgages Read More »
Home Equity Conversion Mortgages endorsements fell for the second month in a row in April, although trends show proprietary reverse products are now filling some of the void. Processing Content Endorsements of the Federal Housing Administration-backed product dropped 1.4% between February and March to 2,088 loans from 2,117, maintaining a slowdown that appeared in the
HECMs lose ground to proprietary reverse products Read More »
U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner said the agency is rescinding energy-efficiency requirements tied to loans backed by the Federal Housing Administration (FHA) and U.S. Department of Agriculture (USDA). Turner announced the move Tuesday at HousingWire’s The Gathering in Austin. A 2024 rule under the Biden administration had made new
HUD rescinds FHA, USDA energy efficiency rule for new homes Read More »
The majority of mortgage industry trade groups and professionals reacted in a supportive but pragmatic way following an announcement from federal housing agencies that detailed moves to modernize mortgage underwriting by introducing newer credit scoring models. They largely welcomed the shift while emphasizing that the real test will be in execution and follow-through. The announcement
Mortgage industry welcomes new credit score models, urges further reform Read More »
Federal agencies on Wednesday took steps to bring newer credit scoring models into the mortgage underwriting process, marking a significant shift in how borrower risk is evaluated. U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the adoption of FICO 10T and VantageScore 4.0 for Federal Housing Administration (FHA) loans in the
FHFA launches VantageScore 4.0 pilot; HUD signals FICO 10T for FHA Read More »