Some who attended saw a less positive tone from the FHA especially with regards to FHA rep and warranty trends. So it seems that decreasing the MIP further was not even being discussed within the FHA at the moment.
At a panel discussion Ed Golding was asked about this possibility and he answered that FHA was not considering making any change. There has been some chatter among market participants suggesting that FHA might reduce its mortgage insurance premium (MIP) if its minimum capital improved meaningfully this year. The FHA dropped its proposal for a claims filing deadline – which was causing consternation among lenders.Ĭoming out of the MBA’s Annual Conference were analyst’s thoughts on a potential FHA premium changes. 55% for most loans when the 2% is reached – either in the Actuarial Report, or whenever the FHA can document it hits that point after that. The statute requires FHA to balance the Fund’s financial performance and meeting borrower needs – and a rate cut at that point would be consistent with those requirements. “As you know, the FHA Actuarial Report is expected out in November, and many are predicting it will near or possibly surpass FHA’s 2% net worth requirement. So in advance of that the CHLA is asking FHA to look at cutting annual premiums back to pre-crisis levels of. The letter also urges HUD to eliminate its Life of Loan premium policy. The Community Home Lenders Association (CHLA) sent a letter to acting FHA Director Ed Golding calling on FHA to lower premiums when the FHA Fund hits a 2% Net Worth Requirement. It’s free, gives you an idea about the risks to your computer – every bank and lender should have its IT department go through it. The Assessment provides a repeatable and measurable process for financial institutions to measure their cybersecurity preparedness over time. (Yes – use the electrical outlet – don’t let more devices have access to your lap top by charging them there!) The Federal Financial Institutions Examination Council (FFIEC) developed the Cybersecurity Assessment Tool to help institutions identify their risks and determine their cybersecurity preparedness. FHA News MERS, BofA, Fifth Third Appraisal Whistleblower SettlementsĪre we heading for a “Pearl Harbor” type event in the internet? Possibly, and cyber security is certainly becoming critical.
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