AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Congress Seeks Stronger FHA Role.(Federal Housing Administration)
Byline: Brian Collins
Washington-Legislation is in the works to revamp the Hope for Homeowners program and make the Federal Housing Administration refinancing program more attractive to borrowers and servicers.
A bill introduced by House Financial Services Committee chairman Barney Frank, D-Mass., would eliminate the 3% upfront insurance premium, cut the 1.5% annual premium in half and drop shared appreciation where the government could take 50% of the price increase when the house is sold.
For servicers, the bill ensures they will receive a fee for refinancing underwater mortgages and eliminates liability for a first payment default.
Rep. Frank incorporated these changes to the Hope program in a bill that spells out how the new Obama administration should spend the remaining $350 billion of the Troubled Asset Relief Program funds.
He said Congress was too concerned about being "excessively generous" when it drafted the program last summer and passed it as part of the Housing and Economic Recovery Act in July.
"It was drafted so restrictively, it hasn't been used," Rep. Frank said at a committee hearing.
- Talking FHA with commissioner Montgomery: FHA's top official discusses the need...
- Magazine article from: Mortgage Banking Stowe, Robert June 1, 2008 700+ words
Brain D. Montgomery has served as assistant secretary for housing-federal housing commissioner since 2005. As head of the Federal Housing Administration (FHA), he oversees the nearly $400 billion FHA insurance portfolio. He also...
- Talking with new FHA commissioner Brian Montgomery.(Newsmaker)(Federal Housing...
- Magazine article from: Mortgage Banking Wisniowski, Charles September 1, 2005 700+ words
...confirmed the Texas native to replace John Weicher as commissioner of the Federal Housing Administration (FHA). As assistant secretary for housing-federal housing commissioner, Montgomery is responsible for overseeing the $500 billion...
- SEN. PATTY MURRAY HOLDS A HEARING ON THE ROLE OF THE FEDERAL HOUSING...
- News wire article from: Political/Congressional Transcript Wire April 3, 2009 700+ words
...ON THE ROLE OF THE FEDERAL HOUSING ADMINISTRATION IN ADDRESSING THE HOUSING...specifically, the Federal Housing Administration will play in the stemming...now calling on the Federal Housing Administration to be the savior of...
- A Warning About Need For Due Diligence.(Federal Housing Administration loans)
- Magazine article from: Mortgage Servicing News Weicher, John November 1, 2002 700+ words
...Weicher, assistant secretary for housing and federal housing commissioner, recently sent out a Mortgagee Letter to servicers of Federal Housing Administration loans advising them about how to avoid acquiring...
- Bill Proposes Raising FHA Loan Limits: The bill would link the limit to the...
- Magazine article from: Origination News Forres, Jessica July 1, 2004 700+ words
...would raise the Federal Housing Administration loan limits in high...opposed to increasing the Federal Housing Administration loan limit to address...Under the bill, the Federal Housing Administration could insure loans...
- Commish Says FHA to Return to Prominence.(United States. Federal Housing...
- Magazine article from: Origination News April 1, 2006 700+ words
ATLANTIC CITY, NJ -- Federal housing commissioner Brian Montgomery gave several clues about what he is looking for in reform of the Federal Housing Administration program. Speaking at the Regional Conference of Mortgage...
- Big federal housing agency could slam the door on NY; Loan guarantees for...
- Magazine article from: Crain's New York Business Lipowicz, Alice June 4, 2001 700+ words
...already becoming alarmed about the new policy priorities being set by George W. Bush's appointees in the Federal Housing Administration. The agency is important to New York state, providing millions of dollars annually in federal mortgage...
- Pitfalls of FHA lending: many lenders are finding the Federal Housing...
- Magazine article from: Mortgage Banking Walzak, Rebecca B. March 1, 2009 700+ words
With subprime practically gone and lending down across the board, lenders are jumping on the Federal Housing Administration (FHA) bandwagon as an alternative. The share of government-insured mortgages tripled from 8.4 percent...
- Topdot Leveraging FHA in Its Growth.(Federal Housing Administration)(Topdot...
- Magazine article from: Origination News Sinnock, Bonnie July 1, 2008 700+ words
...Largely by leveraging Federal Housing Administration programs, Topdot Mortgage...recruit underwriters with Federal Housing Administration direct-endorsement...Mr. Brown said the Federal Housing Administration loans that today represent...
- Tighter Requirements For FHA MAP Lenders.(Federal Housing Administration...
- Magazine article from: Origination News October 1, 2004 700+ words
...control plans for all Federal Housing Administration multifamily accelerated...fiscal year 2004 Federal Housing Administration multifamily and nursing...Congress increased Federal Housing Administration multifamily loan limits...
Source: HighBeam Research, Congress Seeks Stronger FHA Role.(Federal Housing Administration)