Tag: FHA
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Historic Milestones for Women’s Independence: Fair Housing Act & H.R. 5050
In the year 2018 we have observed milestones for the history of women’s social and economic independence. It marks the anniversary of two important pieces of legislation that helped women achieve economic growth through business ownership as well as homeownership—two interrelated tools that are pivotal for personal wealth building. The Fair Housing Act, an act…
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Financial Services Committee Confirms Brian Montgomery as FHA Commissioner
Chairman Jeb Hensarling of the House Financial Services Committee released an official statement confirming the dual appointment of Brian Montgomery as the Federal Housing Administration (FHA) Commissioner and Assistant Secretary for Housing at the Department of Housing and Urban Development (HUD).
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The Gender Gap: Women as Mortgage Consumers
In the last 200 years, women’s voice and role in society has evolved quite substantially in the United States and around the world. The mortgage industry is no exception. As first-time homebuyers, women face patterns of discrimination. These discriminatory lending patterns, in violation of many regulations including those promulgated by the U.S. Department of Housing…
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Reducing Losses on FHA Defaulted Loans
Servicing FHA Loans continues to be challenging and, in many instances, includes high losses on default liquidated loans. While FHA delinquencies have greatly improved compared to post crisis delinquency, there are still over 7.8 million outstanding FHA insured loans with delinquency rates that rose as high as 11.25 percent according to the FHA Single Family…
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Increase Your Sales as a Renovation Realtor
Recently, the National Association of REALTORS® (NAR) reported that the highest home buying demand in years is being stifled by tight inventory. In this article, I will demonstrate how you can increase your available inventory by embracing homes in need of renovation. If you are already using renovation loans as a tool to sell more…
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First Tennessee Bank Reaches Second Lending Settlement
In June 2015, First Tennessee Bank reached a $212.5 million settlement for knowingly underwriting and originating mortgage loans not complying with Federal Housing Administration (FHA) lending requirements. First Tennessee Bank recognized that from January 2006 to October 2008 it originated and underwrote mortgage loans insured by the FHA which did not satisfy the Department of…
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Quicken Loans Suing the DOJ and HUD
Quicken Loans—the largest Federal Housing Administration (FHA) mortgage lender in the U.S.—sued the United States Department of Justice (DOJ) and Department of Housing and Urban Development (HUD) on Friday. Quicken Loans claims this was its only choice after the DOJ told the company it must publicly admit to information that was false, as well as…
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HUD Secretary Castro's Testimony before the House Financial Services Committee Ignites Opposition
Earlier this week, we blogged about the upcoming House Financial Services Committee hearing featuring U.S. Department of Housing and Urban Development (HUD) Secretary Julian Castro. The hearing, titled The Future of Housing in America: Oversight of the Federal Housing Administration, was directed towards the financial status of the Federal Housing Administration (FHA), the condition of…
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HUD Secretary Castro’s Testimony before the House Financial Services Committee Ignites Opposition
Earlier this week, we blogged about the upcoming House Financial Services Committee hearing featuring U.S. Department of Housing and Urban Development (HUD) Secretary Julian Castro. The hearing, titled The Future of Housing in America: Oversight of the Federal Housing Administration, was directed towards the financial status of the Federal Housing Administration (FHA), the condition of…