FHA responds to the market By Jeff Sorg, OnlineEd Blog (August 22, 2019) To promote homeownership, especially among credit-worthy first-time buyers, the Federal Housing Administration (FHA) published its long-awaited final regulation, and policy implementation guidance, which establish a new condominium approval process. That provides for comprehensive revision to FHA condominium project approval policy. The new policy […]
FHA is instructing lenders to provide a second independent property appraisal in cases where FHA determines there may be inflated property valuations.
FHA’s reduction in premium rates is an appropriate measure to support the path to the American dream By Jeff Sorg, OnlineEd Blog (January 13, 2017) – As the nation’s housing market continues to improve, U.S. Housing and Urban Development Secretary Julián Castro announced the Federal Housing Administration (FHA) will reduce the annual premiums most borrowers will […]
The settlement resolves allegations that M&T Bank failed to comply with certain FHA origination, underwriting and quality control requirements. By Jeff Sorg, OnlineEd Blog (May 16, 2016) – M&T Bank Corp. (M&T Bank) has agreed to pay the United States $64 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting […]
There is no change to the FHA national loan limit “ceiling” which remains at $625,500 By Jeff Sorg, OnlineEd Blog (December 15, 2015) – The Federal Housing Administration (FHA) announced the agency’s new schedule of loan limits for 2016. These loan limits are effective for case numbers assigned on or after January 1, 2016, and will remain […]
(Jeff Sorg, OnlineEd) – Quicken Loans, claiming to be the nation’s largest Federal Housing Administration (FHA) mortgage lender, has filed suit in Federal District Court against the United States Department of Justice (DOJ) and Department of Housing and Urban Development (HUD). The company claims they were left with no alternative but to take this action after the DOJ demanded […]
(Jeff Sorg, OnlineEd) – In an announcement released by the United States Department of Justice, MetLife Home Loans LLC has agreed to pay the United States $123.5 million to resolve allegations that MetLife Bank N.A. (MetLife Bank) violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban […]