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03/03/2021 08:00 AM EST
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Though the pandemic recession has driven up the delinquency rate on Federal Housing Administration loans, the president's appointees are widely expected to reduce mortgage insurance premiums by at least 25 basis points to make home loans less expensive.
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By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism. Digital Claim Submission Capabilities Available Through FHA
The Federal Housing Administration (FHA) implemented additional functionality in its FHA Catalyst: Claims Module, achieving full, digital submission capabilities for all FHA Single Family Title II forward mortgage claim types and the elimination of manual, labor intensive paper-based claim submission processes for servicers of FHA-insured mortgages.
New claim types available in the module now in effect include electronic submissions for FHA’s Claims Without Conveyance of Title (CWCOT) program, augmenting the programmatic streamlining made to this alternative conveyance method announced by FHA in July. Servicers submitting claims to FHA for insurance can now use the FHA Catalyst: Claims Module for all 17 Single Family forward mortgage claim types, including
Correspondent, MLO Jobs; Digital, Trailing Doc; FHA s Foreclosure and Eviction Moratorium Extension Dec 22 2020, 8:28AM
I hope that everyone had a happy solstice yesterday, with a few folks writing to suggest that “It is the shortest day, of the longest year, of our lives.” Given my background in capital markets I am regularly asked how some lenders offer lower rates than others. Freddie Mac’s survey has continues to point to mortgage rates dropping, even when “rates” aren’t doing much. The answer is simultaneously simple and complicated (borrowers can pay plenty of points to buy it down, or the lender calculate the value of servicing differently), and one of my commentaries from earlier this year spells it out well. I encourage you to skim through the “How are Mortgages Priced” section, or pass it along to any MLO pointing at some of the headline-grabbing rates in the market (like 1.99 percent for a 30-year fixed!?!). Mortgage pricing, o
FHA Extends COVID Relief Measures Until March Dec 22 2020, 8:32AM
The Department of Housing and Urban Development
(HUD) has
extended the timeframe for several of the relief programs it put into
effect last spring through its Federal Housing Administration (FHA) to help lenders,
servicers, and homeowners cope with the COVID-19 crisis.
FHA s eviction and foreclosure moratoriums have been
extended for
an additional two months, through February 28, 2021. These moratoriums prohibit
servicers from initiating or proceeding with foreclosure and
foreclosure-related eviction actions for FHA-insured single family forward and
reverse mortgages, except for those secured by legally vacant and abandoned
properties. This is the fourth time these moratoriums have been extended.