TITLE

FHA Plan Would Make Lenders Eat a Lot More Faulty Loans

AUTHOR(S)
Berry, Kate
PUB. DATE
August 2013
SOURCE
American Banker;8/13/2013, Vol. 178 Issue 124, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the U.S. Federal Housing Administration's (FHA's) method for calculating lenders' liability for loan defaults. The article notes the FHA is considering a method that is based on a sampling of loans with underwriting defects which will extrapolate a rate for lenders' estimated total risk to the FHA's insurance fund and make it more expensive to be a FHA lender. The Department of Housing and Urban Development's (HUD's) risk measure for lenders is mentioned.
ACCESSION #
89748917

 

Related Articles

  • FHA Readies New Delinquency Reporting Requirements.  // Mortgage Servicing News;Sep2006, Vol. 10 Issue 8, p14 

    The article reports on the preparation of the U.S. Federal Housing Administration (FHA) to unveil its new default reporting requirements. The details of the plan are described in the Department of Housing and Urban Development's mortgage letter that was sent and approved by the FHA lenders in...

  • FHA Charts Recovery After Premium Cut. Collins, Brian // Cujournal.com;6/12/2015, p1 

    The article discusses the satisfaction of the U.S. Department of Housing and Urban Development Secretary Julian Castro over the Federal Housing Administration's (FHA) accomplishment in reducing its mortgage insurance premiums which pushed loan volumes up. It mentions Castro's optimism that FHA...

  • R-G Mortgage stopped from originating FHA/VA guaranteed loans. Carmona, Jose L. // Caribbean Business;7/19/2007, Vol. 35 Issue 28, p10 

    The article reports that R&G Mortgage Corp. is currently unable to originate Federal Housing Administration-insured (FHA) or Veterans Affairs-guaranteed loans due to the disapproval by U.S. Department of Housing and Urban Development (HUD) to act as HUD-FHA approved lender. According to HUD that...

  • FHA Issues First Chapter of Handbook for Lenders. Colins, Brian // National Mortgage News;10/6/2014, Vol. 39 Issue 3, p1 

    The article reports on the release of handbook by the Federal Housing Administration (FHA) that was designed to provide lenders with clearer guidance on the agency's underwriting requirements and originating agency-backed loans. Topics discussed include endorsement of the handbook by Julian...

  • HUD extends support for 'flipping' homes.  // Hill;12/4/2012, Vol. 19 Issue 134, p8 

    The article offers information on the extended waiver that permits the Federal Housing Authority (FHA) to issue loans to buyers who remodel and sell their homes with greater value which was implemented by the Department of Housing and Urban Development (HUD).

  • FHA BY THE BOOK. Schulman, Phillip L.; Booth, Emily J. // Mortgage Banking;Oct2008, Vol. 69 Issue 1, p100 

    The article discusses considerations concerning the U.S. Federal Housing Administration (FHA) and the changes to its single-family programs. It highlights on the top 10 common housing urban development (HUD) allegations, which include documentation of the source of funds, considerations...

  • HUD Rule Sets Brokers 'Free'. Collins, Brian // National Mortgage News;4/19/2010, Vol. 34 Issue 29, p10 

    The article reports on the U.S. Department of Housing and Urban Development (HUD) final rule that eliminates the Federal Housing Administration's (FHA) approval process for third party mortgage brokers and increases the net-worth requirements for lenders approved by FHA.

  • HUD Fleshes Out Plan to Clean Up FHA. Berry, Kate // American Banker;1/22/2010, Vol. 175 Issue F303, p10 

    The article reports that the U.S. Department of Housing and Urban Development (HUD) provided more details on its plan to identify underperforming U.S. Federal Housing Administration (FHA) lenders. According to the article, every three months HUD will review all FHA loans that originated over the...

  • Loan Review Could Result in Hefty Penalties for 10 FHA Lenders. Finkle, Victoria // American Banker;9/12/2013, Vol. 178 Issue 141, p5 

    The article reports 10 Federal Housing Administration (FHA) lenders' underwriting practices were investigated and could be fined, according to the September 10, 2013 written testimony presented by the U.S. Department of Housing and Urban Development's (HUD's) inspector general (IG) David Montoya...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics