Federal Housing Finance Administration (FHFA) Director Melvin L. Watts told the U.S. Senate Committee on Banking, Housing and Urban Affairs that “Congress urgently needs to act on housing finance reform” and bring Fannie Mae and Freddie Mac out of receivership after almost nine years.
For millions of moderate-income homebuyers, there’s an important money-saving question looming in 2017: Will Congress reinstate deductions for mortgage insurance premiums as part of its overhaul of the federal tax code?
A week after the Federal Housing Finance Authority announced it was raise the maximum conforming loan limit on loans acquired by Freddie Mac and Fannie Mae, the Federal Housing Administration announced yesterday it also increased its loan limits slightly in most areas of the country in 2017, due to the rise in home values.
Call it a housing policy head fake – one with potentially painful consequences for moderate-income buyers, sellers and seniors in hundreds of condominium projects around the country.
The U.S. Attorney’s office has reached a $1.025 million civil settlement with a Brighton-based mortgage lender and its founder and CEO in connection with allegations that they submitted false insurance claims on mortgages insured by the Department of Housing and Urban Development’s Federal Housing Administration (FHA).
