Distressed Loans Hit a Five Year Low, Except FHA!

By
Mortgage and Lending with Primary Residential Mortgage Inc. NMLS 3094 NMLS # 260747

Great to hear that delinquent loans fell to a five year low in the second quarter of 2013 (reported by the Mortgage Bankers Association). However, FHA loans increased. Why is this a big deal? The US Government doesnt want to be in an insurer of conventional loans as mentioned this week with the potential closing of #Fanniemae and #Freddiemac. But, it will continue with #FHA which the government does and will continue to insure. I am not sure I understand why you would want to wind down two entitites that are now making money and have paid back 3/4 of what it borrowed and continue with program that has constantly struggled to remain solvent. Perhaps it ought to be the other way around?

Posted by

Rick Costa

rcosta@bayeq.com

707-981-7349

www.rickcostamortgage.com

@rickcostamortg

 

 

NMLS # 260747 Representing Bay Equity Home Loans NMLS # 76988

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Rick Costa

FHA/VA/USDA expert
Doing the hard to get done loan!
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