Browsing Tag:Updates

newest-information-updates-us-current-residence-gross-sales-soar-as-mortgage-price-rise-looms
US legacy home sales rose for the second straight month as the prospect of impending higher mortgage rates fueled demand.Existing home sales rose 0.8 percent in October compared to the previous month, the National Association of Realtors said on Monday, contrary to expectations of a decline. Sales reached a seasonally adjusted annual rate of EUR 6.34 million, compared...
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hud-updates-appraisal-tips-fha-information-and-views
The FHA and HUD are updating the rating requirements for Federal Housing Administration-Guaranteed Residential Mortgage Loans.In June 2021, President Joe Biden announced a move to bring valuations in line with the guidelines of the Fair Housing Act - the move was introduced as an initiative called the Interagency Task Force on Property Appraisal and Valuation Equity, or PAVE.The FHA...
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mmi-fund-actuarial-report-updates-information-on-reverse-mortgage-developments-declining-h4p
An annual actuarial review of the Mutual Mortgage Insurance (MMI) Fund finances for the Home Equity Conversion Mortgage (HECM) ledger provides updated data on borrower usage of HECM loans and a longer outlook of emerging trends related to product use by borrowers. This emerges from the report on the HECM program conducted by the actuary firm Pinnacle Actuarial...
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fha-coverage-updates-goal-to-revitalize-chattel-residence-renovation-program
The Federal Housing Administration has released updated policy changes aimed at revitalizing Title I loans for the purchase of prefabricated homes backed by personal property and for home improvement.The changes, which will take effect immediately and become mandatory for loans taken out on or after May 9, 2022, include measures that are intended to facilitate the conduct of appraisals....
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va-cashout-heloc-servicing-bilingual-instruments-catastrophe-updates-jumbo-and-non-qm-updates
VA Cashout, HELOC Servicing, Bilingual Tools; Disaster Updates; Jumbo and Non-QM UpdatesStarting today I’m in Oklahoma City for the OMBA Conference. The median home price here is roughly $150,000 and housing prices are up nearly 7 percent in the last year, ahead of the 5.4 consumer inflation rate. Life is filled with numbers. I wonder what the numbers were...
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fha-publishes-updates-to-single-household-housing-handbook-4000-1
The Federal Housing Administration (FHA) announced Tuesday that it has updated a variety of sections of Single Family Home Policy Handbook 4000.1 to include improvements and revisions to existing guidelines, as well as changes to a variety of technicals. In most cases, this newly added language complements and enhances the existing policy, according to an announcement by the...
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mlo-jobs-complete-mortgage-buying-and-selling-servicing-digital-jumbo-automation-merchandise-conforming-typical-updates
MLO Jobs; Whole Loan Trading, Servicing, Digital, Jumbo, Automation Products; Conforming Conventional UpdatesFirst off, my apologies to Ernest Hemingway whose name I mistakenly wrote as “Earnest.” Thank you to those who pointed that out. Second… Okay… I see my share of clever and funny videos. But this one is a “must watch,” superb and short, about adults returning to...
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fha-updates-single-household-coverage-handbook-4000-1
At the end of July, the Federal Housing Administration (EFH) made several important revisions to the Manual for Single Parent Family Policy 4000.1. The new guidelines are part of a series of changes recently announced by the Biden-era FHA, including guidelines on options to mitigate COVID-19 recovery losses. The agency describes the changes mainly as "enhancements and...
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fha-updates-covid-19-restoration-loss-mitigation-choices-weiner-brodsky-kider-pc
On July 23, 2021, the FHA released Mortgage Letter 2021-18 (ML 2021-18) amending its COVID-19 loss mitigation guidelines for borrowers with FHA-insured forward mortgages affected by the COVID-19 pandemic. ML 2021-18 primarily introduces a "waterfall" for loss mitigation options for owner-occupied primary residences, including: (1) the standalone COVID-19 recovery subclaim (which replaces the standalone COVID-19 subclaim) and (...
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fha-broadcasts-updates-to-property-and-appraisal-qc-evaluation-necessities-weiner-brodsky-kider-pc
The FHA recently issued Mortgage Letter 2021-17 (ML 2021-17) which announced updates to certain quality control (QC) requirements in Single Family Home Policy Manual 4000.1 (SF Handbook 4000.1), Section VA3.c.ii (C) are given. , including the expiration of a temporary partial suspension of these requirements by COVID-19.The temporary partial waiver, originally announced in June 2020 and extended in...
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