A new study finds the Federal Housing Administration is largely serving a population it didn’t necessarily set out to assist. Instead of aiding low-income borrowers, the FHA is increasingly serving home buyers whose incomes exceed those of average Americans, according to a report released Thursday by the George Washington University’s Center for Real Estate and [...]

The Department of Housing and Urban Development announced a $202 million Deutsche Bank settlement this week for the bank’s actions in a civil fraud case involving Federal Housing Administration direct lending.  The lawsuit, filed in May 2011, sought damages and penalties of Deutsche Bank for false certifications under the company’s Mortgageit subsidiary over a period of [...]

The number of reverse mortgage applications rose by 4%, or 280 loans in March to 7,075 in total, after rising slightly in February, according to data released by the Department of Housing and Urban development Monday. March applications year-over-year however, are down nearly 20%. While reverse mortgage applications have experienced a slow increase in the [...]

While overall Federal Housing Administration loan volume is expected to fall over the course of the next two years, FHA predicts its reverse mortgage volume to remain relatively steady. The most recent public FHA projections, included in an actuarial review of the agency’s mutual mortgage insurance fund in late 2011 estimated reverse mortgage volume near [...]

Three former loan officers and a former title agent have been debarred indefinitely by the Department of Housing and Urban Development following their criminal convictions in reverse mortgage fraud charges. The three Florida loan officers and title agent from Pittsburgh have been banned from conducting business with the federal government in the future, HUD announced [...]

There may not be a future for the Department of Housing and Urban Development if Mitt Romney has anything to do with it. The Republican presidential candidate in the 2012 election met with supporters in Palm Beach, Florida on Sunday at a closed-door fundraiser where he detailed some the policies he’d pursue, if elected, according [...]