Browsing Tag:Issues

fha-points-non-permanent-partial-waivers-to-its-hecm-insurance-policies-weiner-brodsky-kider-pc
The FHA approved on 2. The temporary partial waivers apply to Mortgagee Letter 2015-11 and Mortgagee Letter 2016-07 and are valid until June 30, 2022.The Mortgagee Letter 2015-11 waiver enables mortgage holders to offer HECM borrowers amortization plans with unpaid real estate fees, regardless of their total outstanding arrears. The 2016-07 mortgage letter waiver allows mortgage creditors to...
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fha-points-new-waivers-for-reverse-mortgage-debtors-impacted-by-pandemic
The Federal Housing Administration (FHA) announced Thursday that it has issued two partial waivers that will apply to the Home Equity Conversion Mortgage (HECM) program due to the ongoing impact of the COVID-19 coronavirus pandemic.These waivers allow borrowers to screen for future repayment schedules for unpaid real estate fees regardless of the total outstanding amount that has not yet...
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reverse-mortgages-improved-however-points-stay-says-fha
While Federal Housing AdministrationHome Equity Conversion Mortgage Program has improved, there are still some key areas of concern. So says Julienne Joseph, the FHA's assistant assistant secretary for single-family homes, who this week shared her perspective on the area with an audience of reverse mortgage loan professionals. Joseph comes into her new role with a useful background -...
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if-mortgage-charges-begin-shifting-up-maybe-its-best-to-take-into-consideration-locking-in-a-number-of-the-present-low-charges-for-longer-than-your-present-contract-we-overview-the-problems-that-yo
Readers of our Swap Rate Charts will have noticed some big changes in the last week, especially the surprisingly big ones Q1-2021 GDP result was published.This week, one-year swap rates rose +8 basis points to their highest level since April 2020.This week, the two-year swap rates rose +16 basis points to their highest level since March 2020.Given that rising...
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fha-points-steering-on-eligibility-of-daca-recipients
As we explained in our previous legal update on January 19, 2021, the FHA has expanded the eligibility to apply for FHA-insured mortgages to US residents under the DACA program by addressing certain requirements of the FHA- Manual has waived.[1] On May 28, 2021, the FHA released Mortgage Letter 2021-12, which clarifies the FHA's existing eligibility requirements for DACA...
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