FHA and HUD Office of Housing
@FHAgov
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Federal Housing Administration and HUD Office of Housing, U.S. Department of Housing and Urban Development
Washington, DC
Joined June 2013
Today we appointed seven new and returning members to serve on the Manufactured Housing Consensus Committee, a Federal Advisory Committee supporting HUD on manufactured housing construction and safety standards:
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Today we published our updated set of permanent options for mortgage servicers to help borrowers with FHA-insured single-family mortgages keep their homes or otherwise avoid foreclosure when they fall behind on their mortgage payments.
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HUD awarded nearly $137 million in grants to increase affordable housing and supportive services for seniors and people with disabilities. The funds help create and repair rental homes, provide rental assistance, and connect tenants with vital resources.
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FHA’s newly revised Single Family underwriting guidance will allow rental income from individuals renting space inside a borrower’s home to be included as part of FHA qualification when the borrower has 12 months of history of receiving this income:
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HUD recently closed a $60.2M Rental Assistance Demonstration Transaction to preserve affordable housing in Atlanta, GA. The transaction will help develop, preserve, and rehabilitate 282 existing rental homes for low-income individuals and families.
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Changes to the FHA Multifamily program decrease the required debt service coverage ratios (DSCRs) and increase the maximum allowable loan-to-value/loan-to-cost (LTV/LTC) ratios for mortgages on properties that offer rent-assisted affordable rental homes:
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FHA Multifamily policy announced today creates a new category of mortgages FHA will insure on properties where at least 50 percent of the rental homes are targeted to individuals and families with incomes at or below 120 percent of the Area Median Income:
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We’ve completed our Single Family Defect Taxonomy used for Title II mortgage program servicing loan reviews. The Servicing Defect Taxonomy provides greater transparency regarding FHA’s servicing loan review process:
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Today we’ve posted for feedback our proposed Optional Reimbursement of Claim Alternative. This draft policy is intended to support lender liquidity by allowing servicers to receive reimbursement of tax and insurance advances earlier in the process:
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FHA portfolio reports covering October 2024 activity are available now. In October, FHA insured more than 73,000 single family home mortgages, 35 multifamily mortgages, and 16 healthcare facility mortgages. Access the reports:
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We’ve announced new loan limits for calendar year 2025 for our Single Family forward and Home Equity Conversion Mortgage insurance programs. Loan limits for most of the country will increase in the coming year due to continued home price appreciation:
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FHA portfolio reports covering September 2024 activity are available now. In September, FHA insured more than 67,000 single family home mortgages, 48 multifamily mortgages, and 24 healthcare facility mortgages. Access the reports:
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In a newly posted draft, we’re proposing updates that will allow greater flexibilities for borrowers using income received from individuals renting space in borrowers' homes to qualify for an FHA-insured single family mortgage:
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Today we announced nearly $30 million in Green and Resilient Retrofit Program awards to multifamily properties across 23 states to support energy efficiency and climate resilience renovations of more than 4,700 homes:
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Today, we also released the Fiscal Year 2024 FHA Annual Management Report. The report details the accomplishments within our single family housing, multifamily housing, and healthcare programs, and highlights FHA's 90th anniversary.
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As of September 30, 2024, the MMI Fund capital ratio stands at 11.47 percent of Insurance in Force:
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FHA’s post-forbearance home retention options have been extremely effective at helping borrowers avoid foreclosure and stay in their homes.
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A majority of Black and Hispanic borrowers who obtained low down payment mortgages and slightly less than half of all rural borrowers who obtained low down payment mortgages obtained mortgages insured by FHA:
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Over the past four calendar years, more than 8 out of every 10 borrowers with FHA-insured home purchase mortgages were first-time homebuyers, whereas in the rest of the market, loans made to first-time homebuyers comprised half of originations:
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Today FHA published its annual report to Congress on the status of the Mutual Mortgage Insurance Fund for fiscal year 2024. The report describes the work of the FHA Single Family mortgage insurance programs over the past fiscal year:
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