Links in “FHA”

HUD's Julian Castro made his debut before Congress yesterday and took heat for lowering the insurance premium. "If a private company operated the way the FHA operates, it would be shut down." [2/12/15]

Lenders wishing to cancel case numbers for loans in process pursuant to Mortgagee Letter 2015-01. Critical update on FHA's New MIP Cancellation Procedures. [1/14/15]

By 37%! For the typical first-time home buyer this could mean a reduction of approximately $900 per year in their monthly payments and make the difference in qualifying for a loan. [1/8/15]

New York-based Golden First Mortgage's authority to originate, underwrite and certify mortgages for FHA insurance was abused on more than 1,000 mortgage loans. The company has settled for $36 million. [1/5/15]

The FHA has released its loan limit schedule for high-cost and lower-cost areas to become effective January 1, 2015. The 2015 loan limits for highest and lowest cost areas will remain the same as 2014. [12/8/14]

Breaking the government's streak of big dollar settlements for faulty mortgage loans, Wells Fargo lawyers came before a judge along with lawyers for the U.S. and said that it is doubtful they will be able to reach a settlement. [11/19/14]

The Government Accountability Office recently released financial statements and financial audits for the CFPB and FHA. Information regarding the CFPB can be found here. The FHA audit and financial statements can be found here. [11/18/14]

The United States District Court for the District of Columbia removed support of HUD’s Disparate Impact Rule under the Fair Housing Act (FHA). Although the ruling does not affect ECOA (Regulation B), it potentially weakens the use of the rule which allowed liability under FHA based on a practice’s discriminatory effect even if the practice was not motivated by a discriminatory intent. The ruling emphasizes that FHA "unambiguously prohibits only intentional discrimination." [11/5/14]

Norristown, Pennsylvania, has settled with HUD regarding violations of the Fair Housing Act when the city enacted ordinances which, in effect, required the eviction of domestic violence victims. The specific agreement can be found here. [10/3/14]

U.S. Bank agrees to waive couple's $11,500 credit card balance and refinance their home after getting into hot water with the Fair Housing Act by declining to recognize their home as sufficient collateral because it was located on a reservation. [9/17/14]