Sentences with phrase «of insured mortgages»

If I sell my current home and buy another, will the new parameters apply if I transfer the outstanding balance of my insured mortgage to the new home?

Mortgage lenders don't carry enough of the risk of insured mortgages and, as of today's announcement, this could soon change.

Currently, the federal government is on the hook to cover the cost of 100 per cent of an insured mortgage in the event of a default.

FHA argued that the bond investors who buy packages of insured mortgages expect full - month payments of interest plus principal and that, in any event, FHA lenders charge borrowers rates that are slightly below market to help compensate for the post-closing payments.

«Lenders have estimated that this change will take away 30 % to 60 % of their insured mortgage business,» says McLister.

However, since last November, the Department of Finance acknowledged that it was examining the impact of shifting more of the risk of insured mortgages onto the banks and mortgage lenders.

Lenders must now apply the same restrictions for high - ratio mortgages to the entirety of their insured mortgage books, regardless of their equity, meaning the following product types will no longer qualify for portfolio insurance:

FHA's portfolio of insured mortgages — multifamily, healthcare, and single family, as well as commitments entered into for project - based rental assistance are within those functions.

Under changes that took effect in July, the maximum length of an insured mortgage was shortened to 25 years, and the amount homeowners could borrow with a home equity loan was capped.

FHA had argued that its bond investors, who purchase packages of insured mortgages, expected full - month payments of interest plus principal.

The amount of the benefit paid to MCAP will include the outstanding balance of the insured mortgage, plus accrued interest from the date of death to the date of claim settlement.