Mortgage Processing News in FHA Weekly Update
Friday, February 17, 2012 - 7:32pm
More than a quarter million dollars of federal money will help the Fremont Housing Agency with carpet replacement in Gifford Tower, concrete work, appliance replacement and office space renovation. The U.S. Department of Housing and Urban Development informed FHA Monday of $257,725 in funding as part of more than $8 million awarded to public housing authorities in Nebraska to make major large-...
Friday, February 17, 2012 - 7:30pm
The Federal Housing Administration will exhaust its reserves over the coming year, according to budget projections released Monday, which would require a Treasury infusion for the first time in its 78-year history. But Obama administration officials said more recent developments, including fines that will go to the FHA from last week's $25 billion mortgage settlement with five major banks, could...
Thursday, February 9, 2012 - 7:25pm
The latest FHA Single-Family Outlook report from the FHA shows that serious delinquencies continue to plague the FHA. The number of seriously delinquent FHA loans increased by 18.9% from last year to a record number of 711,082 mortgage loans. FHA loans classified as seriously delinquent amount to 9.6% of all FHA insured mortgages. A seriously delinquent loan is defined by the FHA as loans that...
Friday, February 3, 2012 - 4:23pm
Beginning the 37th month of his presidency, the Obama Administration today announced a laundry list of new programs to help struggling homeowners, crack down on abusive lending practices, make mortgage documents easier to read, convert REO to rental, and other assorted initiatives. Some require Congressional approval; others are a work in progress, and a couple can begin quickly. At the heart of...
Friday, February 3, 2012 - 4:23pm
The Federal Housing Administration (FHA) will toughen its standards to approve mortgage lenders doing business with the government, and force more banks and mortgage companies to buy back defaulted mortgages in a major move to crack down on mortgage lenders. The federal government’s changes are part of an effort to improve mortgage lending conditions and reduce losses on home mortgages as result...
Thursday, January 26, 2012 - 6:57pm
Buying a condominium is getting trickier for anyone who wants to put down only 3.5 percent and have the government insure their mortgage. The issue isn’t just the borrower’s financial wherewithal. It’s the building’s, and plenty of condos no longer get a thumbs-up from the Federal Housing Administration. Since Feb. 1, 2010, condo buyers haven’t been able to secure unit-by-unit “spot” approval for...
Friday, January 20, 2012 - 4:23pm
On Friday, the Federal Housing Administration (FHA) restated intentions originally announced in 2010 to enact more stringent performance requirements for Department of Housing and Urban Development-approved lenders by increasing lender indemnification, with an eye toward limiting risk and strengthening finances for its Mutual Mortgage Insurance (MMI) Fund. “These new regulations strengthen the...
Friday, January 20, 2012 - 4:21pm
FHA mortgages go a step further in order to help consumers purchase a home of their own. Having a qualified co-borrower can make a huge difference for some borrowers when it comes to receiving FHA mortgage approval by adding strength to the most important segments of the loan file. This option is often used when a borrower cannot meet the necessary FHA guideline requirements in order to qualify...
Friday, January 13, 2012 - 4:19pm
Starting this week, Federal Housing Administration lenders will be required to note and record when a mortgage transaction has been previously sold as Real Estate Owned property, including Home Equity Conversion Mortgage for Purchase transactions that involve former REOs. “Effective Saturday January 14, 2012 lenders will be required to indicate whether a purchase transaction was previously sold...
Friday, January 6, 2012 - 6:14pm
The Federal Housing Administration is extending for another year its temporary waiver of anti-flipping regulations, initially introduced in 2010 to facilitate the turnaround of foreclosed properties in hard hit communities. In most cases, FHA ordinarily prohibits insuring a mortgage on a home owned by the seller for less than 90 days. In 2010, FHA temporarily waived this regulation through...
Friday, January 6, 2012 - 6:13pm
Some housing commentators warn that the Federal Housing Administration is depleting its cash reserves due to a spike in delinquencies on older FHA-insured loans, and the agency may soon be calling on taxpayers for help, CNNMoney reports. But other commentators say home price trends are important to FHA’s reserve fund strength, and the federal housing secretary says FHA’s reserves are up from last...
Friday, December 30, 2011 - 4:01pm
In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration Commissioner Carol J. Galante today extended a temporary waiver of FHA’s anti-flipping regulations through 2012. “This extension is intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the...
Thursday, December 22, 2011 - 7:29pm
The Federal Housing Administration (FHA) is the oldest government backed lender in the U.S. It began as part of the New Deal in 1934. Its earliest mission was to provide loans to those denied by traditional financial institutions, but were still deemed "credit worthy." The goal of the FHA was to create better neighborhoods, living conditions and boost the economy by helping more Americans become...
Friday, December 16, 2011 - 7:22pm
The Obama administration’s pick to run to lead the Federal Housing Administration has run into trouble in the U.S. Senate amid concerns that the agency will require a taxpayer bailout. The Senate Banking Committee voted Tuesday to approve Carol Galante as an assistant Housing and Urban Development secretary and head of the FHA. Her nomination, however, was approved only by a 13-9 vote. Many...
Friday, December 16, 2011 - 7:19pm
The Federal Housing Administration’s reverse mortgage product, the Home Equity Conversion Mortgage, is an amazing product, maybe even ahead of its time. Developed 22 years ago, the product has been maturing into a viable option just as 10,000 baby boomers are starting to turn 65 each day. But some in the industry feel the HECM program has lost its way and no longer serves those whom it was...
Meet Our Newest Members
|
Amy
Glenn
 |
Shelli
Baxter
 |
Allison
Scheets
 |
Carmen
Tercilla
 |
|
Christina
Andrada
 |
Gina
Apodaca
 |
Hung
Le
 |
Natasha
D. Smith
 |
Recent Mortgage News
War Vets Should Get Tax Break on Foreclosures, Fed's Peach SaysBusinessWeekThe program would apply to homes owned by...
Uncle Sam's Fire Sale. Minimum Investment: $1 BillionBusiness InsiderClose to one-third of these — 250000 — sit on the...
Realtors Slam Obama Foreclosure-Rental PlanWall Street Journal (blog)For several months, Obama officials have been studying...
Washington TimesCitigroup 'Defrauded' Fannie, Freddie, Whistle-Blower SaysBusinessWeek22 (Bloomberg) -- Citigroup...
Fannie-Freddie Plan, Sweden FSA, Trader Suspects: ComplianceBusinessWeek22 (Bloomberg) -- With no plan from Congress or the...
Recommended Links
Upcoming Classes
NAMP News Categories
Recent Articles
Fri, February 17th, 2012
The past few weeks have been quite interesting around the office for me, not because I have had opportunity to learn new things or underwriting interesting cases, but because I have had to endure a...
Fri, February 17th, 2012
More than a quarter million dollars of federal money will help the Fremont Housing Agency with carpet replacement in Gifford Tower, concrete work, appliance replacement and office space renovation....
Fri, February 17th, 2012
The Federal Housing Administration will exhaust its reserves over the coming year, according to budget projections released Monday, which would require a Treasury infusion for the first time in its...
Recommended Links
Today's Forum Discussions
Thu, February 23rd, 2012
Thu, February 23rd, 2012
Thu, February 23rd, 2012
Thu, February 23rd, 2012
Thu, February 23rd, 2012
Mortgage Underwriter Jobs
Position Description
Chartis has an opening for an Underwriting Assistant. Responsibilities include:Premium coding - Work...
Underwriter Trainee Program- Overland Park, KS
Job ID
Business Division
Company / Unit Zurich in North America
Function /...
HL Underwriter Sr. - (CHOCS/HPO) Lewisville, TX-110044048Job Description
In this role, you will underwrite and review...
Posted Date: 5/16/2011
Job Category: Banking/Mortgage
Position Title: Underwriter
Salary Range:
Location: Detroit-...
Underwriter - Kansas City
Assurant Employee Benefits:
Assurant Employee Benefits specializes in quality employee benefits...
© 2006-2011 National Association of Mortgage Processors® (NAMP®). All Rights Reserved. Job Description for Mortgage Processor