For the first time in its history, the U.S. Department of Housing and Urban Development (HUD) will require grant applicants seeking HUD funding to comply with state and local anti-discrimination laws that protect lesbian, gay, bi-sexual, and transgender (LGBT) individuals. Today, HUD published a notice detailing the general requirements that will apply to all of [...]

Wells Fargo, PNC Real Estate, and Deutsche Bank were the top three multifamily lenders in 2009, according to the New York-based Mortgage Bankers Association’s annual rankings. The rankings are colored by consolidation and the recession. For instance, Wells Fargo was the fourth-largest lender in 2008, with $6.1 billion in multifamily originations, while Wachovia was the [...]

Earlier this year, the Federal Housing Administration (FHA) passed a new set of lending guidelines that removes the long-standing “spot approval” process for FHA-insured condominium loans and enacts stringent new requirements for projects to be approved on a propertywide basis. While the new guidelines purport to make the loan approval process simpler, they will dramatically [...]

One of the key attractions of FHA mortgage financing is going, going — but not quite gone. Sellers and buyers who move fast can still make the most of it. Sometime this summer, the Federal Housing Administration plans to slash maximum “seller concessions” from 6 percent of the home price to 3 percent. Seller concession [...]

One of the key attractions of FHA home mortgage financing is going, going – but not quite gone. Sellers and buyers who move fast can still make the most of it. Sometime this summer, the Federal Housing Administration plans to slash maximum “seller concessions” from 6 percent of the home price to 3 percent. Seller [...]

A dubious distinction was reached during the first three months of 2010: More than 10% of all mortgage borrowers are now behind on their payments. The delinquency rate hit a record of 10.06% in the first quarter, according to the Mortgage Bankers Association. The seasonally adjusted rate accounts for all mortgages on properties that have [...]