The U.S. Department of Housing and Urban Development has released its annual update to Federal Housing Administration loan limits for 2026, increasing both forward mortgage ceiling amounts and the maximum claim amount for Home Equity Conversion Mortgages. The adjustment reflects continued home price growth across much of the country and is intended to preserve access to FHA-insured financing for borrowers in a wide range of housing markets while keeping federal programs aligned with current market realities.
In a much-anticipated move late this week, the Federal Reserve lowered its benchmark interest rate by a quarter of a percentage point for the third time this year, a decision that financial markets, loan officers and households have been watching closely. The Federal Open Market Committee’s action, which reduced the federal funds rate to a range of roughly 3.5 %–3.75 %, was aimed at supporting a slowing economy and easing borrowing costs.
In a move that could reshape federal housing policy, leaders of the U.S. House Financial Services Committee recently introduced a comprehensive bipartisan legislative package aimed at alleviating America’s persistent affordable housing crisis. The proposal — formally titled the Housing for the 21st Century Act — was revealed ahead of a scheduled committee markup, setting the stage for debate as lawmakers in both parties look for solutions to the nation’s deepening supply and affordability challenges.
FICO has reached an agreement with Federal Housing Finance Agency (FHFA) to release the historical datasets for its newer credit‑score model, FICO 10T, paving the way for broader adoption by the major government‑sponsored enterprises (GSEs). In a corporate announcement, FICO said the three national credit bureaus will deliver 10T data connected to single‑family loan‑level records to the GSEs.
Mortgage lenders are seeing better per‑loan revenue in 2025 than in recent years, yet the cost to originate those loans remains stubbornly high, creating a squeeze even as overall profitability improves. According to a new update from Freddie Mac, the average cost to produce a mortgage in the second quarter of 2025 was about $11,800 per loan — a modest improvement from the first quarter’s roughly $13,400 for retail‑only lenders, but still slightly above where costs stood in late 2023.
For those of us that work with many first-time homebuyers or low-to-moderate income buyers, we may from time-to-time come across a client that has a Section 8 Homeownership Voucher. This program was introduced by HUD as a way to increase homeownership for low-to-moderate income families. It works very similar to the Section 8 Rental assistance program in which the voucher will pay a portion of the borrower’s mortgage payment each month for up to 15 years or the entire term of the mortgage if one of the borrowers is disabled.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
As volume continues to grow where overall originations of the FHA 203k program is concerned, so of course do errors. I realize that many of the lenders currently underwriting the program are proficient where policy and procedure for this program is concerned, however there are those lenders that are still somewhat new to the program and I thought I would share a little insight as to a few things to keep in mind while underwriting and servicing the program which hopefully spare some of you later issues with both HUD and your investors.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
HUD finally “threw us a bone” on Wednesday when they posted their Moratorium on Risk Based Premiums at the FHA website. According to the Moratorium, the new premiums will be required for cases assigned on and after October 1st, 2008 through September 20th of 2009.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
I realize HUD’s Mortgage Letter 2009-15 generated a lot of excitement and buzz for the industry upon it’s posting on May 12th but no one was more pleased to see HUD retract it just as quickly on May 13th than I. Please note that when I voice my pleasure for the retraction, it certainly doesn’t include any nod for HUD’s methods.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
As I’m sure we’ve all learned by now, HUD announced late last Wednesday afternoon that another extension had been issued in regards to the implementation of the new condominium project approval procedures mentioned in Mortgagee Letter 2009-19. I, for one, am extremely grateful for the additional time; though the extension was issued just as I was wrapping up a very thorough review of the Mortgagee Letter- go figure!
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
The anticipated guidance from HUD in regards to the final Condo Policy finally arrived last week in the form of two Mortgagee Letters. ML 2009-46B, which replaces the previously issued ML 2009-19 and ML 2009-46A which communicates additional temporary guidance on a number of topics.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
I initially titled this article, “HUD Sues Lenders over Omission of Manufactured Housing Engineering Certificates,” but I decided that it might be a little over the top. But, the facts are this. A letter issued by the HUD Inspector General (MEMORANDUM NO: 2007-KC-0801) dated September 2007 recommended just that.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Though I had planned to discuss FACTA this week, HUD recently issued a very important Mortgagee Letter with some long awaited news for all of us so let’s take a break from my series on credit and talk about Mortgagee Letter 2009-14! We’ll pick up right where I left off on the credit series next week.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
I usually check HUD’s Mortgagee website at least once daily for any signs of newly issued Mortgagee Letters that haven’t yet been announced. Today I see that Mortgagee Letter 2009-42 is posted and the subject is Sub-Servicing of FHA-Insured Mortgages.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Mortgagee Letter 2009-51 communicates HUD’s acceptance of FNMA Form 1004D effective for cases assigned on and after January 1st. The form is actually designed to serve two purposes:
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Written By: Bonnie Wildt
I have said it before and I will say it again and that is, do not believe everything you hear or read for that matter. In this particular instance I am referring to AUS Findings. I have had countless conversations with processors and loan officer who want to know why I am asking for documentation that the AUS findings have clearly stated wasn’t needed or worse, they can’t believe I am turning a loan down that has an Approve/Eligible. So here it is again and pay particular attention to the details because just because you have an Approve/Eligible or Accept doesn’t necessarily mean you have a done deal.