A House subcommittee approved a bill Tuesday to help the Federal Housing Administration “shore up” the health of the Federal Housing Administration’s mortgage insurance fund. The FHA Emergency Fiscal Solvency Act aims to strengthen the fund, which insures all FHA loans including Home Equity Conversion Mortgages. An independent audit of the fund found in November [...]

Recent changes to the Federal Housing Administration’s Lender Insurance program could include some rising costs for companies that make FHA loans, once the changes go into effect in February. Targeting fraud and lending violations, FHA issued a final rule on Wednesday that requires lenders in the administration’s Lender Insurance program to indemnify the Department of [...]

The Federal Housing Administration announced today it has extended its temporary waiver of FHA anti-flipping regulations through 2012. The extension was first made in 2010 in an effort to continue stabilizing home values and improve conditions for areas of high foreclosure, FHA said. Home Equity Conversion Purchase Mortgages are not included under the waiver, however. [...]

Legislation was introduced in the Senate late last week that would reform and recapitalize the Federal Housing Administration in an effort to prevent a taxpayer bailout. The bill, introduced by Senator David Vitter (R-La.) would require the FHA to recapitalize its single-family mortgage insurance fund in two years. “I certainly don’t want the FHA to [...]

Federal Housing Administration lending giant Allied Mortgage Corp. will regain its FHA lending privileges—for now. The mortgage company, which was ordered by the federal government to stop originating mortgages as part of a lawsuit against the company and two of its executives for violation of FHA regulations having to do with its branches, fired back [...]

The Federal Housing Administration today announced the results of its annual actuarial review of the Mutual Mortgage Insurance Fund, including the fund for the FHA’s Home Equity Conversion Mortgage program. The HECM program received a transfer of $535 million from the MMI capital reserve account in 2011 to meet shortfalls. However, the transfer is less [...]