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Posts Tagged ‘FHA’

January 3, 2012 An Explanation of the Anti-Flipping Waiver

The recent announcement by the Federal Housing Administration (FHA) that they will extend the waiver of anti-flipping regulations through 2012 is welcome news to the entire real estate industry. But just what are “anti-flipping regulations” anyway? First, let’s define flipping in this context. Property flipping refers to the practice in which a recently acquired property [...]

November 2, 2011 The Sensible Accounting to Value Energy (SAVE) Act

A bill now making its way through Congress, the Sensible Accounting to Value Energy (SAVE) Act, is garnering a groundswell of support from those within the real estate appraisal industry. Under the SAVE Act, federal loan agencies would assess a borrower’s expected energy costs when financing a house. The U.S. Department of Housing and Urban [...]

September 20, 2011 Congressional Budget Office: Refinancing Plan Could Cost $15 Billion

The Congressional Budget Office (CBO) conducted a cost-benefit analysis of the Obama administration’s proposed federal refinancing plan to decrease homeowner defaults. The analysis revealed that such a plan would cost private bond investors $13 to $15 billion. The CBO’s cost-benefit analysis showed a federally supported refinancing plan would result in the refinancing of some 2.9 [...]

July 20, 2011 New Limits to Mortgage Loans Coming in October

In 2008, Congress increased the upper limit for mortgage loans to $729,750 as an emergency measure during a pricey housing market. Borrowers were able to obtain mortgages more easily and less expensively with the increase. The loans were guaranteed by the government, ensuring that investors would receive payments even if borrowers defaulted. As the government [...]

July 12, 2011 More Help for Unemployed Homeowners

Last week, the Obama administration made policy changes to help unemployed homeowners with FHA-backed home loans prevent foreclosure. Under the current policy, unemployed homeowners who qualify can stop making mortgage payments for four months, but given today’s particularly depressed job market and the length of time those who lose their jobs stay out of work, [...]

February 22, 2011 Obama Proposes Pulling the Plug on Fannie and Freddie

The Obama administration has proposed the eventual dissolution of Fannie Mae and Freddie Mac in the Treasury Department’s long-awaited report regarding mortgage finance reform. The report, presented to Congress on February 11, calls for a shift of mortgage credit from government to private markets. Fannie, Freddie, and the Federal Housing Administration (FHA) currently support more [...]

January 26, 2010 FHA Changes the Rules

On January 20, 2010, the Federal Housing Administration – a government insurance company that backs mortgages and refinance loans for lenders that follow its guidelines – changed the rules for home borrowers. Starting in the spring, borrowers will have to pay more up front to get a loan. The FHA is raising its upfront mortgage [...]

September 17, 2009 Appraisal Organizations Address Letter to the FHA

A number of appraisal organizations, including the Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers, and the National Association of Independent Fee Appraisers, released a memo to the Federal Housing Administration (FHA) regarding the Home Valuation Code of Conduct (HVCC) and FHA’s possible adoption of elements of [...]