November 28, 2022

FHA’s 75% Increase In Mortgage Insurance Premiums May Hurt Housing Sales

After the implosion of Fannie Mae and Freddie Mac in 2008, the FHA was seen as the savior of the housing industry.  Liberal underwriting guidelines combined with a low down payment requirement made FHA financing the preferred choice for many home buyers.  As a result, the FHA’s share of total mortgage lending soared to almost […]

FHA Lists 50 Counties With Highest Default Rates

The rates of defaults and delinquencies on FHA mortgage loans continues to surge.  The latest Monthly Report to the FHA Commissioner on FHA Business Activity reveals that almost 1 out of every 10 FHA mortgages is now classified as “seriously delinquent”.   A seriously delinquent loan is defined as being 90 days or more past due, […]

Will The FHA Need A Bailout? Congress Approves “FHA Emergency Solvency Act” As Loan Defaults Soar

Loan defaults at the FHA continue to soar according to the latest FHA Single-Family Outlook report issued by the FHA. The latest statistics on the FHA loan portfolio show that almost 18% of all FHA insured mortgages are 30 days past due or more.  The number of loans classified as seriously delinquent increased by 19% […]

FHA Loan Losses May Trigger Taxpayer Bailout and Higher FHA Insurance Premiums For Borrowers

Due to increased loan losses on FHA insured mortgages, borrowers may soon be facing an increase in FHA insurance premiums. In testimony before Congress, Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development (HUD), stated that due to an almost total depletion of the FHA Mortgage Insurance Fund, it may become necessary […]