HUD: FHA Insures $12 Million Mortgage for Urban Redevelopment of Affordable Multifamily Housing in Baltimore
Insurance endorsement provided by FHA supports affordable financing to create 87 rental homes throughout several lots The Federal Housing Administration (FHA) announced on March 17 the final endorsement and completed construction of a $12 million loan insured under FHA’s 221(d)(4) mortgage insurance program for Marshall Gardens in Baltimore, Maryland. The property was named after Thurgood…
HUD: FHA Insures $24.5 Million Mortgage for Affordable Multifamily Housing in Northeast Denver
Insurance endorsement provided by FHA supports affordable financing to create 119 rental homes The Federal Housing Administration (FHA) announced on [February 28] that it has closed on a $24.5 million loan insured under FHA’s 221(d)(4) new construction mortgage insurance program for Wildhorse Ridge in Denver, Colorado. The insured loan will be used to finance the…
HUD: FHA Removes Temporary COVID-19 Underwriting Mitigants for Multifamily Transactions
Resilient portfolio performance allows return to Multifamily Accelerated Processing Guide standard requirements for reserves, escrows, and cash-out refinance transactions The Federal Housing Administration (FHA) announced on Monday at the Mortgage Bankers Association Commercial/Multifamily Finance Convention & Expo that it is removing temporary COVID-19 underwriting mitigants for multifamily transactions insured under Section 223(f) of the National Housing Act,…
HUD: FHA Real-Estate Owned Property Purchase Opportunities Expanded for Owner-Occupied Buyers
Expanded exclusive listing period increases priority purchase opportunities on HUD-owned single-family homes for owner-occupants, HUD-approved nonprofits, and governmental entities. The Federal Housing Administration (FHA) on Thursday announced it is increasing its exclusive listing period on certain HUD single-family real-estate owned (REO) homes to allow more time for owner occupants, HUD-approved nonprofit organizations, and governmental entities to submit…
HUD: Disaster Assistance Announced for Alabama Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for areas in the State of Alabama affected by severe storms and flooding from October 6 to October 7, 2021. On December 21, President Biden issued a major disaster declaration for the counties of Jefferson and Shelby. Federal funding, provided…
HUD: FHA Single Family Title II Forward and Home Equity Conversion Mortgage Loan Limits for 2022 Announced
The Federal Housing Administration (FHA) on Tuesday announced new loan limits for calendar year 2022 for its Single Family Title II forward and Home Equity Conversion (reverse) Mortgage (HECM) insurance programs. Loan limits for most of the country will increase in the coming year resulting from robust house price appreciation, which is factored into the…
HUD: FHA 2021 Annual Financial Report to Congress Released
Capital ratio remains above statutory minimum benefitting from rapid home price appreciation and a steady recovery from COVID-19 pandemic delinquencies. The U.S. Department of Housing and Urban Development (HUD) today released its fiscal year (FY) 2021 report to Congress on the financial health of the Federal Housing Administration (FHA) Mutual Mortgage Insurance Fund. In addition to its…
HUD: FHA Revised Title I Policies Published to Further Future Financing of Manufactured Homes
The Federal Housing Administration (FHA) on Tuesday announced the publication of significantly revised and enhanced policies under its Single-Family Title I Manufactured Home Loan Program for lenders to provide loans for the financing of manufactured homes, including those titled as personal property, and the lots on which these homes will reside. The enhanced policies provide updated guidance…
HUD: FHA Transaction Completed to Support Expanded Healthcare Services at the University of New Mexico Hospital
$320 million FHA-insured supplemental mortgage provides financing for expansion of Albuquerque, New Mexico, hospital servicing acute care needs of New Mexico residents The Federal Housing Administration (FHA) announced that it has completed a mortgage insurance transaction with The University of New Mexico Hospital (UNMH) located in Albuquerque, NM. The transaction, which closed on September 9, 2021, provides…
HUD: FHA Extends Single Family Eviction Moratorium
Today’s announcement extends the eviction moratorium through September 30 for foreclosed borrowers and other occupants and notes expiration of the foreclosure moratorium on July 31. The Federal Housing Administration (FHA) on July 30, 2021, announced an extension of its moratorium on evictions for foreclosed borrowers and their occupants through September 30, 2021, and noted the expiration of the foreclosure moratorium on…