Feds Say FHA May Need Taxpayer Bailout
FHA Bailout Appears Likely Government officials said that a taxpayer bailout of the FHA appears likely based on increased mortgage defaults. The FHA has traditionally had higher default levels than Fannie Mae or Freddie Mac due to [...]
FHA – Ready To Join Fannie And Freddie
Multiple Reasons For High FHA Default Rates Massive default rates in the FHA loan program are starting to raise a few eyebrows. Without major reform of fundamentally poor lending policies, the FHA could soon join the failed [...]
HUD Imposes Dramatic Restrictions On FHA Cash Out Refinances
FHA Tightens Rules Again First there was an increase in the required credit scores to be eligible for FHA financing. (See FHA Increases Minimum Credit Score Requirement). Now comes a major tightening of the rules on FHA [...]
Does The FHA Owe You A Refund?
FHA MIP Any one who has paid off an FHA mortgage loan may be entitled to a refund of a portion of the mortgage insurance premium (MIP) that was paid by the borrower upfront when the loan [...]
Major Lenders Publish FHA Loan Limit Increases
CitiMortgage, along with other major lenders published their FHA loan limit increases. The higher temporary FHA loan limits were authorized as part of the Economic Stimulus Act of 2008. CitiMortgage will begin accepting FHA loan registrations as [...]
FHA Increases Minimum Credit Score Requirement
FHA And VA Increase Credit Score Requirement Effective March 6, 2009, a minimum credit score of 620 will be required to be eligible for FHA and VA loans. The credit score requirement had recently been changed less [...]
FHA Increases Loan Limits
FHA Announces Higher Loan Limits As part of the Economic Recovery Act, the FHA loan limits were increased. The new higher loan amounts are effective until December 31, 2009. The higher loan limits will allow many borrowers [...]
Banks Tighten Lending By Restricting FHA Cashout Refi
FHA Loans Become Tougher To Qualify For Effective January 1, 2009 HUD announced that any FHA cash out refinance would require two appraisals when the loan to value exceeds 85% – see FHA Takes A Closer Look [...]
