Friday , 2 June 2017
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Crisis Programs

FHA Foreclosures Soared in April

FHA foreclosures rose 73 percent in April, driven primarily by defaults of loans made in 2008 and 2009 vintage loans, raising new questions about the solvency of the popular government program, which accounts for about a third of all new mortgages. Read More »

Huge Foreclosure Flood Feared

More than half of all Americans are concerned that a huge wave of backlogged foreclosures to be released by major lenders in the wake of the Robo-signing scandal will lower home values in their markets. Read More »

Pressure Rises on FHA

While delinquencies and defaults slowly improve in the housing economy as a whole, FHA’s portfolio has grown consistently worse over the past nine months, creating increased pressure on the agency to reduce risk and increase costs to its borrowers, most of whom are first-time buyers. Read More »

Bulk Sales of GSE Foreclosures Begin

The Federal Housing Finance Agency (FHFA) today invited Investors interested in purchasing pools of Fannie Mae, Freddie Mac and FHA foreclosures in the nations hardest-hit metropolitan areas with the requirement they rent them for a period of year to pre-qualify. Read More »

Computerized Appraisals Win One in Harp 2.0

The federal government, with the reluctant support of the two leading professional appraisal organizations, has sanctioned the use of computerized, appraisals using algorithms and computerized databases of property data to determine a property’s value. Read More »

USDA Has $11.2 Billion to Guarantee No-Down Mortgages

The US Department of Agriculture has only two months to spend $11.2 billion on its no-down payment rural development loan program, a record amount at this juncture in the federal fiscal year for the program that provides no down payment mortgages to borrowers in rural and suburban markets. Read More »

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