Posts tagged as:

fha mortgage

Does FHA need a bailout?

by Moe Bedard

WASHINGTON – The Federal Housing Administration, which propped up the collapsing housing market last year, acknowledged yesterday that it has drained its cash reserves to dangerously low levels, heightening concerns that it might need a taxpayer bailout.
The agency, which guarantees loans for many first-time homebuyers, could be hit if housing prices lose ground or if [...]

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New Homebuyer Program Already Seeing Signs of Mortgage Fraud

by Moe Bedard

While government officials said many suspect claims could turn out to be simple errors, the report found examples of claimants who already owned homes or had not yet bought one. Some 582 taxpayers were under 18 years old — as young as 4. Of the 1.4 million people who have claimed nearly $10 billion in [...]

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FHA may be setting up repeat of housing bubble, lawmakers worry

by Moe Bedard

Some lawmakers, however, worry that the FHA may be doing its job too well — enabling too many people with shaky finances to get loans, and in effect setting up a potential repeat of the housing bubble fueled in part by no-questions-asked subprime loans.

Recent numbers appear to underscore those concerns. The percentage of FHA loans [...]

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FHA foreclosures up, reserves down

by Moe Bedard

As the Federal Housing Administration rapidly increases its role in the mortgage lending business, it’s starting to face a growing number of foreclosures. While in 2006 the FHA’s market share was just 2.7 percent, now that the subprime market is just about dead, the FHA has picked up the slack and its market share reached [...]

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Hope for Homeowners: Will it Help You?

by Moe Bedard

The Hope for Homeowers (H4H) program has been launched and as I have mentioned before here on LoanWorkout, I am very apprehensive as to what this will do for struggling homeowners on Main Street. The reason I am looking at the H4H so pessimistically is because it still leaves lender and mortgage servicer participation in [...]

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