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Have a bright idea about how the government can best liquidate the current huge inventory of owned real estate (REO) currently held by FHA, Fannie Mae and Freddie Mac? Here is your chance to be heard. The Federal Housing Finance Agency (FHFA), the conservator of the two government sponsored enterprises (GSE) in conjunction with the Departments of Treasury and Housing and Urban Development (HUD) are requesting options for selling or otherwise putting the houses into useful service. The three issued...

The Federal Housing Administration's (FHA's) Mortgagee Review Board (MRB) has posted the results of formal actions taken against 240 lenders for failure to meet FHA requirements. The current notice, posted in The Federal Register , is a summary of MRB actions taken as far back as October 2009. A total of 26 lenders fell into the category of "Settlement Agreements, Civil Money Penalties, Withdrawals of FHA approval, Suspensions, Probations, Reprimands, and Administrative Payments." Among the areas...

While they aren't a new concept, the second issue of the HUD publication Evidence Matters highlights the growing importance of multibank efforts in financing affordable housing developments. This "consortia" of private banks share the risk, reduce the cost of lending, and pool together their expertise to meet affordable housing needs in their respective communities. "Consortia" came about as a result of the federal Low Income Housing Tax Credit (LIHTC ) program in 1986. Private commercial banks,...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey* for the week ending June 7, 2011. The Refinance Index ticked up noticeably in the last week, from 2475 to 2883, the highest reading since November 2010. This is bittersweet as it finally showed some linear connection between falling rates and refi demand...only to have rates rise this week. Even so, the last time rates fell from 5.0 to 4.5 as they have in 2011, readings around 3000 on the refi index represented...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 27, 2011. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly...

Almost every American is a renter at some point in his life but today both economic conditions and demographic forces are increasing rental demand , reversing trends that have prevailed from the mid-1990s. Harvard's Joint Center on Housing Studies has just issued a report on the state of rental housing in this country and its renewed importance. While " American's Rental Housing - Meeting Challenges, Building on Opportunities " does not use the word "crisis" in regards to the rental market, it is...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 15, 2011. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly...

The lending executive who became the first Risk Manager of the Federal Housing Administration (FHA) will now, at least temporarily head the agency. Robert C. Ryan will become Acting Commissioner of FHA, replacing David H. Stevens. Ryan will also hold the title of Assistant Secretary of the Department of Housing and Urban Development. Any permanent appointment the position is subject to confirmation by the U.S. Senate. Ryan joined FHA on October 26, 2009 at a time when it was facing unprecedented...