Download or read book Future of FHA written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1977 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Legislative Proposals to Determine the Future Role of FHA RHS and GNMA in the Single and Multi family Mortgage Markets written by United States. Congress. House. Committee on Financial Services. Subcommittee on Insurance, Housing, and Community Opportunity and published by . This book was released on 2011 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book FHA written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Housing and Transportation and published by . This book was released on 2009 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Legislative proposals to determine the future role of FHA RHS and GNMA in the single and multi family mortgage markets written by United States. Congress. House. Committee on Financial Services. Subcommittee on Insurance, Housing, and Community Opportunity and published by . This book was released on 2011 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Creating a New Federal Housing Corporation written by William C. Apgar and published by . This book was released on 1995 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fha Single family Mortgage Insurance written by Congressional Research Service and published by CreateSpace. This book was released on 2015-01-29 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Housing Administration (FHA), an agency of the Department of Housing and Urban Development (HUD), insures private mortgage lenders against losses on eligible mortgages. If a borrower defaults on an FHA-insured mortgage, FHA will repay the lender the remaining amount owed. FHA insurance is intended to encourage lenders to offer mortgages to households who might otherwise have difficulty obtaining a loan at an affordable interest rate, such as households with small down payments. Borrowers pay fees, called premiums, in exchange for the insurance, and these fees are supposed to pay for the costs of any mortgage defaults. In recent years, increasing foreclosure rates and falling house prices have strained FHA's single-family mortgage insurance fund, the Mutual Mortgage Insurance Fund (MMI Fund). At the end of FY2013, FHA received $1.7 billion from Treasury to ensure that it had sufficient funds to cover all of its expected future losses on the mortgages that it was currently insuring. This was the first time that FHA had ever required funds from Treasury for this purpose for its single-family program. In response to concerns about the financial condition of the MMI Fund, FHA has taken a number of steps in recent years to attempt to improve its financial position. These changes have included increasing the fees that it charges to borrowers, adjusting its underwriting standards, and making changes to the way that it manages delinquent mortgages and foreclosed properties. FHA has also requested additional authorities from Congress, such as improving its ability to hold FHA-approved lenders accountable for the mortgages they submit for FHA insurance. These authorities have been included in legislation that Congress has considered but have not been enacted to date. Congress has also been considering additional reforms to FHA. Proposed reforms include increasing the amount of capital that FHA is required to hold in reserve to pay for unexpected increases in future losses and specifying actions that FHA must take if its capital reserves fall below certain thresholds. Some of these proposed additional reforms have been included in several stand-alone bills that have been introduced in recent Congresses, including H.R. 1145 and S. 1376 in the 113th Congress. Additionally, reforms to FHA are being considered in the context of broader reforms to the housing finance system. One housing finance reform bill in the 113th Congress, the Protecting American Taxpayers and Homeowners (PATH) Act (H.R. 2767), would have made more far-reaching changes to FHA than those that have been included in other bills. These changes would have included limiting FHA-insured mortgages to only low- and moderate-income borrowers and first-time homebuyers in most circumstances, reducing the share of a mortgage that FHA can insure, and requiring greater risk-sharing with the private sector. The PATH Act would also have removed FHA from HUD and made it an independent agency.

Download or read book The Future of the Federal Housing Administration s Capital Reserves written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2010 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book MORTGAGE FINANCING Changes in the Performance of FHA Insured Loans written by and published by . This book was released on 2002 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of Housing and Urban Development (HUD), through its Federal Housing Administration (FHA), provides insurance for private lenders against losses on home mortgages. The insurance program is supported by the Mutual Mortgage Insurance Fund (Fund). To help place the Fund on a financially sound basis, the Congress enacted legislation in November 1990 that required the Secretary of HUD to, among other things, take steps to ensure that the Fund achieve and maintain an economic value of at least 2 percent of the Fund's insurance-in-force.1 In February 2001 we reported that a 2 percent capital ratio appeared sufficient to withstand moderately severe economic downturns that could lead to worse-than- expected loan performance.2 However, we cautioned against concluding that the Fund could withstand the specified economic scenarios regardless of the future activities of FHA or the market. Specifically, we noted that our estimates and those of others are valid only under a certain set of conditions, inclining that recently insured FHA loans respond to economic conditions similarly to the response of those insured in the more distant past. At the end of fiscal year 2001, loans originated in the most recent 4 fiscal years accounted for about 70 percent of FHA's portfolio. Concerned about reported increases in FHAs default and foreclosure rates, you asked that we assess the performance of loans made in recent years and the implications for the Fund of any worsening loan performance.

Download or read book The Future of Housing in America written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2015 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Mortgage Financing written by United States. General Accounting Office and published by . This book was released on 2001 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Creating a New Federal Housing Corproration written by William C. Apgar and published by . This book was released on 1995 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The FHA Single Family Mortgage Insurance Program written by Katie Jones and published by Createspace Independent Pub. This book was released on 2013-01-06 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Housing Administration (FHA) insures home mortgages made by private lenders against the possibility of borrower default. If the borrower does not repay the mortgage, FHA pays the lender the remaining principal amount owed. By insuring lenders against the possibility of borrower default, FHA is intended to expand access to mortgage credit to households, such as those with smaller down payments or below-average credit histories, who might not otherwise be able to obtain a mortgage at an affordable interest rate or at all. FHA also traditionally plays a countercyclical role in the mortgage market. In other words, it generally insures more mortgages during periods when lenders and private mortgage insurers tighten their lending standards and reduce activity in response to market conditions, and it generally insures fewer mortgages at times when lenders and private mortgage insurers make mortgage credit more easily available. When an FHA-insured mortgage goes to foreclosure, the lender files a claim with FHA for the remaining amount owed on the mortgage. Claims on FHA-insured loans have traditionally been paid out of an account, known as the Mutual Mortgage Insurance Fund (MMI Fund), that is funded through fees paid by borrowers, rather than through appropriations. However, if FHA were ever unable to pay claims that it owed, it can draw on permanent and indefinite budget authority with the U.S. Treasury to pay those claims without additional congressional action. In recent years, increased default and foreclosure rates, as well as economic factors such as falling house prices, have contributed to an increase in expected losses on FHA-insured loans. This increase in expected losses has put pressure on the MMI Fund and reduced the amount of resources that FHA has on hand to pay for additional, unexpected future losses. This has led to concern that FHA may need to draw on its permanent and indefinite budget authority for funds from Treasury to hold in reserve to pay for these higher expected future losses, or, eventually, to pay insurance claims. An annual actuarial review of the MMI Fund released in November 2012 showed that, according to current estimates, FHA does not currently have enough funds on hand to cover all of its expected future losses on the loans that it currently insures. The results of this actuarial review heightened concerns that FHA could need funds from Treasury. However, whether FHA actually needs to draw funds from Treasury would be determined as part of the annual budget process, not by the actuarial review. FHA faces an inherent tension between protecting its financial health and fulfilling its mission of expanding access to mortgage credit. In addition, the share of mortgages insured by FHA has increased in the past several years as the availability of mortgage credit has tightened, further contributing to this tension. FHA has recently proposed or implemented a number of changes to its single-family mortgage insurance program that are intended to minimize risk to the MMI Fund while still allowing FHA to support the mortgage market and expand access to affordable mortgages. These changes have included increasing the fees that it charges to borrowers for insurance, modifying its underwriting criteria, and taking steps to increase oversight of lenders who make FHA-insured loans. While many of these changes were made administratively by FHA, some involved congressional action. Congress has also weighed additional changes to FHA's programs, and has considered additional legislation aimed at protecting the financial health of the MMI Fund. An example of such a bill is the FHA Emergency Fiscal Solvency Act of 2012 (H.R. 4264), which passed the House of Representatives during the 112th Congress. An identical bill (S. 3678) has been introduced in the Senate.

Download or read book Mortgage Financing written by United States. General Accounting Office and published by . This book was released on 1996 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Real Estate s Best Kept Secret written by Dennis J. Walsh and published by Dennis Walsh & Associates, Incorporated. This book was released on 2013-06 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: REAL ESTATE'S BEST KEPT SECRET Can Change Your Life! All across America, families and individuals are bringing their dreams of homeownership to life through the power of an amazing U.S Government-guaranteed mortgage program. At the same time, there are many more who have no idea this opportunity exists. The "secret" is the little known FHA 203k Renovation Loan Program that provides the funds for purchase or refinance along with renovation funds in a single loan! With a low down payment, you can get a great deal on a great home and remodel it to meet your tastes and needs. Acting on this opportunity can truly change your life, as well as your financial future. Real Estate's Best Kept Secret was written specifically to help you understand the power of this amazing program and the opportunities it presents -- and then guide you successfully to the home of your dreams. You'll keep this easy to read renovation loan handbook at your side to guide you successfully through the process, preparing you for each of the important steps and helping you avoid potential pitfalls. You'll better understand how to locate the right home, negotiate the purchase, evaluate renovation costs and make better decisions regarding the overall home value as well. You'll learn how to work most successfully with your lender, realtor and renovation contractors along your road to 203k success. "This is an exciting book to share with anyone with a Dream of Homeownership. Dennis and Teresa Walsh's passion and willingness to help others resonates throughout the book." - John S. Adams National Renovation Manager Prospect Mortgage "Dennis and Teresa Walsh have once again found that special niche opportunity that can change the way real estate is done. The 203k program is a hidden gem and they lay it out in plain and simple language so you can learn and leverage this powerful tool to get the job done!" - Steve Ozonian Chief Real Estate Officer Carrington Holdings Corporation "The U.S. housing market is plagued by an aged housing inventory. That is compounded with a lack of equity and the need for renovation and updates to be marketable. The 203K program provides real hope for those that want to improve or sell an older home. This program is critical to the revitalization of the national housing market." - Kenneth Jenny former CEO of RealEstate.com, COO of Coldwell Banker Residential Affiliates and CMO of Prudential Real Estate "Dennis and Teresa Walsh recognized that the FHA 203K was a program that could help many people purchase and improve the homes of their dreams. In this "Must Read" book, they provide step-by-step directions for making the most of the Best Kept Secret in Real Estate." - David Horowitz International Real Estate Consultant former SRVP Education NRT, LLC

Download or read book Mortgage Financing written by Thomas J. McCool and published by DIANE Publishing. This book was released on 2001 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to HUD, the economic value of the Mutual Mortgage Insur. Fund grew by about $5 billion in 1999, reaching its highest level in 20 years. This report: estimates the value of the Fund at the end of FY'99, given expected econ. conditions, & compares this est. to the est. of the value of the Fund reported by HUD; determines the extent to which a 2% capital ratio (CR) would allow the Fund to withstand worse-than-expected loan performance due to economic & other factors; & describes options for adjusting the size of the Fund if the estimated CR is different than the amt. needed, & describes the impact that these options might have on the FUND, FHA mortgagors, & the Fed. budget. Tables.

Download or read book Legislative Proposals To Determine The Future Role of FHA RHS Serial No 112 57 September 8 2011 112 1 Hearing written by and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book FHA and VA Fiscal Status written by United States. Congress. Senate. Committee on Banking and Currency and published by . This book was released on 1956 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: