House committee votes to end FHA Short Refi program

The FHA Short Refi program launched in September, and the EHLP wasn’t set to accept applications until sometime this spring. Both bills that propose ending these programs are expected to reach the.

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House Committee approves cuts to HAMP and several other programs.. House Committee approves cuts to HAMP and several other programs. the House also nixed the FHA short-refi program wherein.

US Congress HR830 2011-2012 FHA Refinance program termination act Rescinds and permanently cancels all unexpended funding remaining available and allocated for the Federal Housing Administration FHA Refinancing Program of the Making Home Affordable initiative of the Secretary of the Treasury under which borrowers owing more on their mortgage than the value of their home are provided.

The Federal Housing Administration (FHA) Short Refinance program allowed eligible homeowners to refinance into an FHA-insured loan. Under this program, Treasury made TARP funds available to provide coverage to lenders for a share of potential losses on these loans for borrowers who entered the program by December 31, 2016.

 · 8 Ways To Get A Mortgage Approved (And Not Mess It Up). Closing times can also be delayed for buyers of short sales and foreclosures.. The FHA mortgage program doesn’t require first.

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Yesterday, the House of Representatives voted to kill off the FHA Short Refi program, 256-171. This follows on the heels of votes to end the Home Affordable Modification Program (HAMP) as well as the Neighborhood stabilization program (nsp). The votes fell mainly on party lines, and are not expected to pass the Senate (where democrats are the majority).

March 14, 2011 (Shirley Allen) Wells Fargo & Co. CEO John Stumpf said that principal reductions could have a "huge impact" on Freddie Mac and Fannie Mae and that such a strategy could entice homeowners to default on their current loans in order to get a better deal, echoing the worries made last week by Bank of America chief executive Brian T. Moynihan.

Representative Jeb Hensarling, Chairman of the House Financial Services Committee, has indicated that further negotiations between the House and Senate must take place before the House votes on the.

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