An independent audit last month revealed that the Federal Housing Administration had a $16.3 billion deficit ($30.3 billion in cash reserves as of Sept. 30 to cover $46.6 billion in projected losses), most of which, accounted for loans backed between 2007-2009. Agency officials however have stressed that it has no […]
FHA
Wall Street Journal’s Nick Timiraos discussed Federal Housing Authority (FHA) practices that led to its $16 billion shortfall in 2012, what it’s doing about it and the potential of Congress to offer the administration a bailout.
FHA is lowering its mortgage insurance premiums to help borrowers refinance into lower interest rates. Additional help to military who have been wrongly foreclosed on or denied the opportunity to refinance as well, as announced by President Obama earlier this week FHA is reducing its up-front premium to .01 percent, […]
The Federal Housing Administration’s cash reserves are falling short. This could impact the market in a multitude of ways, including the FHA depleting its reserves, which creates fewer financing options for buyers as well as impacting how quick stabilization occurs. The audit, to be released Tuesday by the FHA, estimated […]
What is the future for Fannie and Freddie and how will it affect buyers and the current market? Originally published at https://realtyevolved.net by Sherwin Sucaldito.