The idea of introducing 50-year mortgages as a potential tool to address housing affordability has hit a pause, as the U.S. Department of Housing and Urban Development signals that more research is needed before pursuing such a significant change to federal housing policy. HUD Secretary Marcia Fudge recently indicated that while extended-term mortgages have been discussed as a way to lower monthly payments, the agency is not prepared to move forward without a deeper understanding of the long-term implications for borrowers and the housing market.
As the Federal Reserve signals that interest rate cuts are likely ahead, many prospective homebuyers are wondering what those changes could mean for mortgage rates and housing affordability in 2026. After years of elevated borrowing costs that reshaped the housing market, economists and housing experts say rate cuts may offer some relief — but not the dramatic reset many buyers are hoping for.
After several years of rapid appreciation that strained household budgets and sidelined many potential buyers, the U.S. housing market is expected to enter a period of slower home price growth that could gradually improve affordability by 2026. Economists and housing analysts say cooling price trends, combined with stabilizing interest rates and modest income growth, may help restore balance to a market that has remained stubbornly out of reach for many would-be homeowners.
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.
The long-awaited "qualified mortgage" rules were released last week by the Consumer Financial Protection Bureau. The new QM rules have set forth guidelines to protect borrowers from predatory lending while shielding lenders who follow the rules from litigation. Many types of high-risk loans that were implicated in the collapse of the housing bubble, such as interest-only mortgages, stated income loans, mortgages with balloon payments, negative amortization loans, etc., are now effectively banned. I have outlined below some of the significant changes that we should be aware of.
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.
Understanding HUD REO- Part One: Overview of the REO Process. Last week, I presented Part One in a series of articles to help expand your knowledge and understanding of HUD REO (Real Estate Owned) Sales for purposes of FHA lending. This week, in part two of the series, you’ll find further explanation of the appraiser’s responsibilities in regards to the HUD REO appraisal requirements.
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.
A credit report is filled with information about your credit obligations and payments that you may owe that report to the credit reporting agencies. Your credit report contains records of your credit accounts including mortgages, credit cards, student loans, installment loans and any other account that report. It also contains public records, collection accounts, your employment history and your current and previous addresses.
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.
Assets are one of the essential conditions of underwriting. There are two major types of assets, liquid assets and non-liquid assets. Both are equally important when a file is underwritten, comparing with old times, where underwriters had to make final determination for the required assets, it is more easier nowadays when automated system makes all the determinations.
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.
With the New Year started, no doubt we have all made our resolutions and are already working on keeping them. Here are some things to keep in mind that will help make this year a successful one when it comes to our jobs.
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.
Once a borrower gets behind on their mortgage payments, they come to a delinquent borrower category. This happens only if a borrower looses his/her ability to pay their mortgage payment on time. At this point now a borrower has to go for other options if he/she thinks that it is hard for him/her to afford monthly payment in future.
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 recently was asked by one of my students if condo assessments were ever included in the mortgage payment. I thought this was a good question. Simply because the answer is two-fold.
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.
In the mortgage business borrower is a primary focus for everyone working in the industry. Without making a borrower happy no one can succeed. This sounds very easy, to make borrower happy, but this is one of the difficult task for every mortgage personal dealing with the borrower. This is the situation where extra effort customer service is required.
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 holiday season is upon us. Many are now taking their vacations yet at the same time, mortgage applications have increased. The end of the year is approaching and those wanting to purchase are either pushing to have Christmas in their new homes or even bring in the New Year there. That usually means more pressure on all of us to make a deal happen. Here are a few things to remember when it comes time management that can make your job a little easier.
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.
Subordination agreement a written contract in which a lender who has secured a loan by a mortgage or deed of trust agrees with the property owner to subordinate the first loan to a new loan (thus giving the new loan priority in any foreclosure or payoff). The agreement must be acknowledged by a notary so it can be recorded in the official county records.)
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.