Federal Housing Administration

Short sales routinely show up in credit reports as foreclosures

2013-05-17 20:20:00

WASHINGTON — Are large numbers of homeowners who have negotiated short sales with lenders at risk because of a startling omission in the American credit system? Do their credit reports and scores indicate that they were foreclosed upon, rather...

Loan underwriters make 'absurd' demands in effort to verify data

2013-05-03 00:00:00

Did you hear about the loan underwriter who demanded a letter from the borrower's doctor stating the borrower had been healed and his illness would not come back? How about the underwriter who wanted a verification of employment from the borrower who...

Lifestyle is keeping budget goal out of reach

2013-04-26 19:54:00

Dear Liz: My husband and I are recovering from a job loss four years ago. We used up all our savings and home equity. My husband is now employed, but we are struggling to keep ahead even with a salary of about $100,000. I was a stay-at-home mom for the...

Mortgage rates fall for 4th straight week; 15-year at record low

2013-04-25 09:21:00

U.S. mortgage rates fell for a fourth consecutive week and the average rate for a 15-year loan hit a new record low, the latest survey of lenders shows. The average rate on a 30-year fixed-rate mortgage was 3.40%, down from 3.41% last week, according to...

Is tenant's guest entitled to keep service animal in unit?

2013-04-19 00:00:00

Question: I manage a 12-unit apartment complex with a strict no-pets policy. We understand that under federal and state fair housing law, we may need to make an exception to our no-pet policy for a disabled resident who requires a service animal as a...

FHA may need $943-million bailout

2013-04-10 16:34:00

WASHINGTON — The Federal Housing Administration helped stabilize the real estate market after the subprime bubble and lay the groundwork for the recovery — and now the bill for taxpayers might be coming due. The Obama administration's...

Freddie Mac: 30-year mortgage at 3.43%, lowest since January

2013-04-11 08:18:00

Mortgage rates are at their lowest level since January, the widely watched Freddie Mac survey shows, with the average for a 30-year fixed-rate loan dropping to 3.43% this week from 3.54% a week ago. The survey of rates lenders are offering to solid...

Obama budget projects $943-million bailout for key housing agency

2013-04-10 11:19:00

WASHINGTON -- The Obama administration's proposed budget projects the� Federal Housing Administration will need a $943-million bailout this year to stabilize its shaky long-term finances. The agency, whose mortgage insurance business increased...

Fannie Mae posts record annual profit of $17.2 billion

2013-04-02 19:34:00

WASHINGTON — Taxpayer-owned Fannie Mae and Freddie Mac are back in the black, but it's unlikely to keep the nation's housing finance giants from being dismantled. Boosted by the recovery in the housing market, Fannie Mae on Tuesday reported a...

Fannie Mae, Freddie Mac to merge some functions in new company

2013-03-04 17:15:00

WASHINGTON — The federal regulator for Fannie Mae and Freddie Mac took the first major step toward possibly shutting down the taxpayer-rescued firms by deciding to merge some functions of the mortgage financing giants into a new company. The...

When the government backs mortgages

2013-03-01 00:00:00

How should we reform our broken housing finance system? To what extent should the federal government continue to provide guarantees for mortgage financing, such as the ones it provides for Fannie Mae and Freddie Mac? With Fannie and Freddie in a federal...

Freddie Mac: 30-year fixed mortgage holds steady at average 3.53%

2013-02-14 09:05:00

Mortgage rates held steady this week, Freddie Mac’s survey of lenders showed, with the 30-year fixed-rate loan at an average of 3.53% for the third week in a row – a great deal for those able to take advantage. The average rate for a 15-year...

A foreclosure sign sits atop a for sale sign in front of a single-family in Denver, Colo. on April 4, 2010.

2012-12-26 17:16:04

The Federal Housing Authority guarantees mortgages, especially for first time and special needs buyers. FHA loans require smaller down payments than conventional loans, but also involve additional fees and home inspections. FHA loans require more approvals so can take longer, delaying closing.

2012-02-15 14:44:06

You will be writing lots of checks. Expenses typically borne by the buyer include: Down payment - Exactly how big the down payment must be depends on the type of loan you are trying to get. Expect to have at least 3.

2012-02-13 09:29:55