The Federal Housing Authority, which insures home purchases with as little as 3.5 percent down payments, may create another crisis in the lending industry, Toll Brothers Inc. Chief Executive Officer Robert Toll said. “Yesterday’s subprime is today’s FHA,” Toll said today at a...
Today we are facing a severe economic crisis which is placing unprecedented stress on every sector of financial system. At the same time a golden opportunity born from the crisis is sitting at our doorstep waiting for us to take action. Seventy-five years ago (1934) in the face of the Great Depression...
In January of this year, both Joe Murin and I were asked by HUD Secretary Donovan to remain as Ginnie Mae president and FHA Commissioner respectively to help the new Administration deal with the on-going housing crisis. We both were privileged to be asked and were honored to continue serving in the Obama...
Some days the best thing about my job is that my chair spins! (Sad but true.) But then along comes items like THIS . Who would have ever thought FHA compliance and underwriting issues would have made it to mainstream videos - not to be missed ! The MBAA has been busy. First, the MBAA announced that they...
The Mortgage Bankers Association (MBA) today announced it has convened an executive-level panel of members to make policy recommendations to help ensure that the Federal Housing Administration (FHA) can continue to fulfill its mission in an evolving mortgage marketplace.
The MacArthur Foundation gave out its annual 'genius' awards last week. This year's awards went to a journalist, a mental health scientist, and a couple who sold their house three years ago. Well, maybe they want to buy it back. Even though the availability for jumbo loans wasn't what...