Financial Condition of the FHA's Mutual Mortgage Insurance Fund: Hearing Before the Subcommittee on Housing and Urban Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Second Congress, Second Session, on the Availability of Affordable Housing for Low- and Moderate-income Home Buyers, Long-term Health of the Single-family Insurance Fund, Collapse of FHA's Multifamily Operations ... April 3, 1992, Volumen4U.S. Government Printing Office, 1992 - 260 páginas |
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Página 8
... downpayments ; no problem . It just isn't so . Lender after lender tells me - loan officers , not their bosses but the people taking loan applications — say it has just become so cumbersome to use that 57 percent rule . We call that HUD ...
... downpayments ; no problem . It just isn't so . Lender after lender tells me - loan officers , not their bosses but the people taking loan applications — say it has just become so cumbersome to use that 57 percent rule . We call that HUD ...
Página 11
... downpayment and monthly payments . The FHA is still the best game in town , certainly a better game than the private mortgage insurance counterpart . Every loan to value scale of FHA requires less downpayment to move in - house . That's ...
... downpayment and monthly payments . The FHA is still the best game in town , certainly a better game than the private mortgage insurance counterpart . Every loan to value scale of FHA requires less downpayment to move in - house . That's ...
Página 14
... downpayment , has remained at 20 percent of FHA's mortgages from month to month , since the reform went into effect . Our over- all volume in the business is down because the economy is down because of the recession , and our overall ...
... downpayment , has remained at 20 percent of FHA's mortgages from month to month , since the reform went into effect . Our over- all volume in the business is down because the economy is down because of the recession , and our overall ...
Página 17
... down payment formula , before it is too late because we think it may be too late and we do think the fund is going to implode on itself that the Congress should take some remedial action . Because there have been , as I say , over 30 ...
... down payment formula , before it is too late because we think it may be too late and we do think the fund is going to implode on itself that the Congress should take some remedial action . Because there have been , as I say , over 30 ...
Página 47
... premiums for loans with lower down payment ; and requiring FHA borrowers to have a real equity interest in their homes . Under your leadership and that of Senator 3 D'Amato , Mr. Chairman , reforms meeting these principles 47.
... premiums for loans with lower down payment ; and requiring FHA borrowers to have a real equity interest in their homes . Under your leadership and that of Senator 3 D'Amato , Mr. Chairman , reforms meeting these principles 47.
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Términos y frases comunes
Administration Affordable Housing Act affordable multifamily housing Alan Cranston areas bond insurers borrowers buyers capital Chairman changes closing costs coinsurance Congress credit enhancement default delegated processing downpayment Fannie Mae federal government Federal Housing Federal Housing Administration FHA insurance FHA loan limits FHA mortgage FHA program FHA's Freddie Mac Ginnie Mae HFAs homebuyers homeownership households Housing and Urban housing finance agencies Housing Tax Credit HUD's implemented increase industry Insurance Fund investors issues lenders losses low-income Mae and Freddie million MMI Fund MMIF mortgage insurance program mortgage limits multifamily finance multifamily housing finance multifamily lending multifamily loans multifamily mortgage NAHA National Affordable Housing options participate percent portfolio premium Price Waterhouse private mortgage insurance problems processors production projects ratio recommendations reinsurance rental housing risk role secondary market securitize Senator CRANSTON Subcommittee on Housing subordinate financing subsidies Task Force underwriting standards Urban Affairs
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Página 103 - ... loan sources as compared to government-backed sources. Likewise, 58 percent of moderate-income applicants (ie having between 80 percent and 100 percent of MSA median income) applied for conventional loans as compared to government-backed loans. Second, even though we would expect government-backed mortgages to appeal to individuals buying homes in low- and moderate-income areas (a census track where the median income is less than 80 percent of the median income for the entire MSA), we find instead...
Página 236 - We want to thank you, Mr. Chairman, and the other members of the subcommittee, for your efforts in bringing about this historic change.
Página 70 - BEFORE THE SUBCOMMITTEE ON HOUSING AND URBAN AFFAIRS SENATE COMMITTEE ON BANKING. HOUSING AND URBAN AFFAIRS BY RICK ADAMS VICE CHAIRMAN.
Página 135 - Commission has worked diligently over many months to examine the effects of rules, regulations, and red tape at all levels of government on the cost of housing in our Nation. The Commission's disturbing conclusion is that exclusionary, discriminatory, and unnecessary regulations constitute formidable barriers to affordable housing, raising costs by 20 to 35 percent in some communities.
Página 78 - Secretary finds that the property with respect to which the mortgage is executed is an acceptable risk, giving consideration to the need for providing adequate housing for families of low and moderate income particularly in suburban and outlying areas or small communities...
Página 236 - Some reassurance on the need for such a program is given in the testimony earlier in 1968 before the Subcommittee on Housing and Urban Affairs of the Senate Committee on Banking and Currency by Secretary Robert C.
Página 45 - Before the Subcommittee on Housing and Urban Affairs, Senate Committee on Banking, Housing, and Urban Affairs, Mar.
Página 125 - Fannie Mae is a privately-owned corporation, chartered by the federal government to fulfill a public mission increasing the supply of capital to finance residential mortgages. We do this by purchasing loans from lenders in the secondary mortgage market, and by issuing securities that are backed by single family and multifamily mortgages. As a trade-off for being limited to the business of single family and multifamily residential finance, Fannie Mae maintains certain ties to the federal government...
Página 236 - ... advancing the interests of low and moderate income people through the financing, development, and preservation of affordable housing. NCSHA is the only representative of state or local government exclusively devoted to the full range of affordable housing issues. NCSHA's members are state housing agencies (HFAs) with statewide authority.
Página 73 - ... are steering consumers to the conventional, private mortgage insurance market if the potential homebuyer has any savings, rather than seeking an FHA insurance commitment as they might have in the past. It is quicker, less labor intensive, and just generally easier to go conventional. As we projected last year, FHA is losing low-risk borrowers. Contrary to assumptions in the original Price Waterhouse study of June, 1990, these borrowers are not selecting the FHA program. The net result is that...