FHA Breaking News The US Department of Housing and Urban Development corrected a final rule that appeared in the Federal Register to increase net worth requirements for Federal Housing Administration mortgagees. Originally scheduled to be implemented on June 21, 2010?, the correction published by HUD states the implementation date is now May 20, 2010. The [...]

As April 1 nears and buyers race to beat the deadline for the first-time homebuyer tax credit, lenders and Realtors have taken out the racing flags to carry them in. Real estate industry statistics suggest that approximately 1.8 million people are expected to receive the federal first-time homebuyer tax credit. They also indicate that the [...]

The Federal Housing Administration (FHA) has taken a lot of heat lately for the growing number of delinquencies in its portfolio. But new data released this week shows that the agency is making significant strides in this area. According to FHA’s March operations report, loans that are 90 days of more past due dropped to [...]

Condominium associations now have to prove they are worthy investments, according to new regulations from the Federal Housing Administration. As of Feb. 1, associations with two or more units must be FHA-certified before the agency will back a mortgage. The previous policy of allowing one-time, or “spot approval,” for individual units was rescinded. FHA loans [...]