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Opinion: Rethinking the FHA mortgage insurance premium

Housing Wire

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

Insurance 337
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Opinion: The risk in cutting FHA insurance premiums

Housing Wire

There has been a flurry of recent articles prognosticating a decrease to Federal Housing Administration (FHA) insurance premiums. At least 137,000 of those borrowers have FHA-insured loans. FHA’s Mutual Mortgage Insurance Fund (MMI Fund) is there to be the primary buffer against these inevitable shifts in housing and the economy.

Insurance 325
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Floify’s new platform aims to provide flexible pricing for mortgage lenders

Housing Wire

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Mortgage 361
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Trade groups express concern to FHFA over historic credit data

Housing Wire

Mortgage Insurers — sent a letter on Monday to the Federal Housing Finance Agency (FHFA) to express concerns about the FHFA’s intent to publish the VantageScore 4.0 The VantageScore dataset that is scheduled to be made available includes information going back to 2013, which is not far enough, the groups assert.

Legal 340
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HECM program study assesses policy impacts of recent years

Housing Wire

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S.

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CRT protects GSEs, taxpayers from unexpected disasters

Housing Wire

After reading the recent report from the Federal Housing Finance Agency on the performance of Fannie Mae and Freddie Mac’ s credit risk transfer programs, anyone unfamiliar with the purposes of CRT might understandably conclude that the GSEs vastly overpaid capital market investors and insurance providers to transfer credit risk off their books.

Insurance 276
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Risk of mortgage fraud is on the rise in the current market

Housing Wire

In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). Rising rates slowed the rate-term refinance train in the fourth quarter of last year, according to the CoreLogic report, moving the market toward purchase loans — and increased mortgage-fraud risks.

Mortgage 374