Posts Tagged FHA

FHA Mortgage Delinquencies Jump in Fourth Quarter

Recent data from the Mortgage Bankers Association (MBA) revealed a somewhat troubling change in the market – Federal Housing Administration (FHA) mortgage delinquencies spiked in the fourth for the first time since 2006. The FHA insures the popular low money down mortgage program which is often used by first time home buyers. 

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UPDATE: Trump Administration Halts Pending FHA Insurance Rate Cut — FHA To Reduce Annual Insurance Premiums on Most Mortgages

close up of dollar bill

UPDATE, 1/21/2017 – The Trump Administration has indefinitely suspended the pending rate cut for mortgage insurance required for FHA-backed loans.  ************************************************************************************************** According to an official announcement from the Federal Housing Administration (FHA), the annual premiums most borrowers have to pay on FHA loans will be slashed, saving new FHA-insured homeowners an average of $500 in 2017. According to a January 9 press release, the FHA is reducing its annual mortgage insurance premium (MIP) by 25 basis points (a quarter of a percent) for most new mortgages with a closing/disbursement date on or after January 27, 2017. 

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FHA to cut insurance rates on multifamily mortgages

multifamily housing

In an effort to increase the amount of affordable rental housing in the U.S., the Federal Housing Administration (FHA) recently announced plans to lower their insurance rates for multifamily mortgages. The rate reductions, announced in late January 2016, will take effect on April 1, 2016, and will directly impact the FHA’s Multifamily Housing Programs and properties that house low- and moderate-income families. This will also impact FHA developments that are installing energy-efficient systems or being built within federal energy guidelines.

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