Tagged: Federal Housing Administration (FHA)

Mass terminations across the federal government expected to hit federal mortgage insurer

Civil rights and disaster recovery programs expected to take massive hit

Down payment assistance programs remain underutilized, despite high eligibility among government borrowers

Nonbank originators and servicers face massive risks of liquidity stress in the next economic downturn

The proposed changes reduce acceptable rental income history from two years to 12 months, among other expansions of FHA guidelines

Borrowers in default are provided more flexible communication and scheduling options

Changes include increase to allowable loan amount, rehabilitation time

FHA mortgagees experiencing a potential or actual cyberattack must notify HUD within 12 hours.

HUD reportedly owes nearly $400 million in refunds to homeowners.

Originally established as part of FHA's COVID-19 recovery measures, these options are accessible to mortgage servicers to assist all borrowers behind on mortgage payments.