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Your partially correct, true losses are covered by FHA guarantee fees/ insurance baked into the interest rate of the borrower. However, all of these loans are in gnma multi and custom mbs pools with most serviced by non bank originators....ginnie guarantees timely payment of interest and principal..after 3 months of non payment by borrower the servicer gets reimbursed by the fund - there are programs that bring the loans current for the borrowers as stated in the article- those programs are ending. Eventually, around 6 months, ginnie pays the loan off in the pool and takes 100% is risk, not the originators.
These programs are full of fraud, thousands of instances of no payment, abuse of dpa, and borrowers going years of living or possibly renting homes for years with no / few payments..very easy if you have knowledge of rules put in place during covid
These programs are full of fraud, thousands of instances of no payment, abuse of dpa, and borrowers going years of living or possibly renting homes for years with no / few payments..very easy if you have knowledge of rules put in place during covid
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trouble brewing in a portion of the housing market
Posted by hubreb on 8/14/26 at 9:30 am
from WSJ article
But if a borrower later defaults, taxpayers are on the hook. Early in the pandemic, as mortgage rates plunged, lenders competed for business by easing underwriting standards. When interest rates rose in 2022, lenders further eased their standards. This let them make mortgages to borrowers who wouldn’t have otherwise qualified based on their incomes.
By late 2022, 70% of FHA borrowers had debt-to-income ratios exceeding 43%, which is generally considered risky. That’s up from 28% in 2012 and 60% before the pandemic. As inflation started to bite, defaults increased. About 15% of FHA borrowers who took out a loan between June 2021 and March 2024 fell seriously delinquent within a year.
To prevent foreclosures, Joe Biden’s regulators used the FHA insurance fund to cover arrears of struggling borrowers and offered to reduce their monthly payments by up to 25% for three years. The reprieve reduced foreclosures, but it magnified moral hazard by encouraging lenders to make riskier loans, knowing the government would rescue borrowers.
A case in point is UWM, which expanded its FHA lending after the housing market stalled. The result: more defaults. According to FHA data, 21.5% of UWM mortgages over the last two years fell seriously delinquent within a year of origination, compared to roughly 11% of its loans in 2022 and 2023.
Remarkably, 12 mortgage lenders have even higher one-year serious delinquency rates for recent mortgages, including Ages Mortgage (27.3%), Top Flite Financial (24.5%) and Loan United (23.7%). Most of these lenders also make loans that are guaranteed by Fannie and Freddie, so the FHA data could signal problems in loans guaranteed by the two GSEs.
A sample of FHA mortgages recently reviewed by the Housing and Urban Development Department found 76% contained a defect, up from 67% in late 2024. This could reflect stepped up scrutiny by the Trump team as well as eased underwriting. Foreclosures remain low, but that’s because the FHA continues to cover missed payments for borrowers who default.
But if a borrower later defaults, taxpayers are on the hook. Early in the pandemic, as mortgage rates plunged, lenders competed for business by easing underwriting standards. When interest rates rose in 2022, lenders further eased their standards. This let them make mortgages to borrowers who wouldn’t have otherwise qualified based on their incomes.
By late 2022, 70% of FHA borrowers had debt-to-income ratios exceeding 43%, which is generally considered risky. That’s up from 28% in 2012 and 60% before the pandemic. As inflation started to bite, defaults increased. About 15% of FHA borrowers who took out a loan between June 2021 and March 2024 fell seriously delinquent within a year.
To prevent foreclosures, Joe Biden’s regulators used the FHA insurance fund to cover arrears of struggling borrowers and offered to reduce their monthly payments by up to 25% for three years. The reprieve reduced foreclosures, but it magnified moral hazard by encouraging lenders to make riskier loans, knowing the government would rescue borrowers.
A case in point is UWM, which expanded its FHA lending after the housing market stalled. The result: more defaults. According to FHA data, 21.5% of UWM mortgages over the last two years fell seriously delinquent within a year of origination, compared to roughly 11% of its loans in 2022 and 2023.
Remarkably, 12 mortgage lenders have even higher one-year serious delinquency rates for recent mortgages, including Ages Mortgage (27.3%), Top Flite Financial (24.5%) and Loan United (23.7%). Most of these lenders also make loans that are guaranteed by Fannie and Freddie, so the FHA data could signal problems in loans guaranteed by the two GSEs.
A sample of FHA mortgages recently reviewed by the Housing and Urban Development Department found 76% contained a defect, up from 67% in late 2024. This could reflect stepped up scrutiny by the Trump team as well as eased underwriting. Foreclosures remain low, but that’s because the FHA continues to cover missed payments for borrowers who default.
Guy who broke the mile record - in 40 yard dashes
Posted by hubreb on 8/12/26 at 12:20 pm
heard this from the Brooks shoes CEO...the guy who broke the 1mile record ran the equivalent of 44 40 yard dashes in 5 seconds each...pretty quick
re: Since 2020 SEC Programs Have Spent Over $300 Million on Coaching Buyouts
Posted by hubreb on 8/11/26 at 5:01 pm to captdalton
Charlie and Benedict had to be a couple million
i think he'll be very good this year once he settles in -- that one drive against UGA was a masterpiece...super strong arm, accurate - just has to not try and force things
i hunt in Tensas too, and we are covered up with bears....i'd say 10% are tagged
have also heard of a game biologist filming a bear den in the tensas refuge that had a sow and cubs and that the sow brought back several fawns to the den
have also heard of a game biologist filming a bear den in the tensas refuge that had a sow and cubs and that the sow brought back several fawns to the den
75 in Memphis with a high of 81
re: Have you ever known a legit murderer?
Posted by hubreb on 7/30/26 at 6:21 pm to lsubatman1
Knew both very well, sad times
[embed]https://www.google.com/amp/s/abcnews.com/amp/US/woman-won-release-prison-years-convicted-mothers-murder/story%3fid=46313117[/embed]
[embed]https://www.google.com/amp/s/abcnews.com/amp/US/woman-won-release-prison-years-convicted-mothers-murder/story%3fid=46313117[/embed]
Freddie is coming back for college FB, asked about Kiffin
Posted by hubreb on 7/29/26 at 8:57 pm
Loading Twitter/X Embed...
If tweet fails to load, click here. The responses are awesome
Twitter Link
The Big Short and Margin Call --- the beginning of Margin Call was not accurate, everyone knew the stuff was garbage -- the 2nd half was correct as it was a blood bath of firms dumping everything they owned.....Big Short had portions that were accurate, but mostly not
he can supply internet to the world
One of the other criteria was abortion rights - they explained that young women don't want to live in states where you can't get abortions -- also, voting rights - these states require ID to vote
I think Taylor Rabe moved up near the guys you listed, strong 2nd half of season
My dog got bit on the face a month ago, most likely a moccasin. Neck swollen huge and foaming at the mouth. Brought to emergency vet at 10:30pm, picked him up next morning at 9a.m. - one vile anti-venom and $2k. Was completely fine 2 days later.
i thought it was pretty balanced until they got to the electoral college portion - then it was overtly political and terrible
don't drink and drive - DUI's suck
re: What State Holds the Unique Distinction of Having
Posted by hubreb on 6/30/26 at 1:41 pm to littleavery1948
Memphis has the most car crash fatalities and pedestrians getting run over per capita in the US
re: Anyone been to Cooperstown Dreams Park?
Posted by hubreb on 6/29/26 at 2:24 pm to TeddyPadillac
quote:
Don't like that the boys stay in the barracks the whole time. All they do inbetween games is sit in their bunks and play on their phones. And they don't sleep well at all most of the nights. I think it would have been a lot more enjoyable if the kids were at the lake houses with their parents
my kid stayed the first two nights at the bunk and the rest of the time with us
i stayed on a rental on the lake, only one window unit in the house and it was really hot a couple of the days
our team gave up 18 home runs in one game, including 6 consecutive
mix of rec teams and super loaded teams - so crazy lopsided scores
our team gave up 18 home runs in one game, including 6 consecutive
mix of rec teams and super loaded teams - so crazy lopsided scores
re: Any recommendations for water heater replacement guys?
Posted by hubreb on 6/22/26 at 10:30 pm to TigerBreath78
Most of these jobs post about needing helped with are easily done on your own with a friends help...youtube
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