in Daily Dose, Featured, Government, News Sign up for DS News Daily Home / Daily Dose / FHA Raises Single-Family Loan Limits Federal Housing Administration (FHA) announced higher loan limits for 2021. The guidelines apply to the administration’s Single Family Title II forward and Home Equity Conversion (reverse) Mortgage insurance programs.The rise in loan limits correlates with nationwide home price appreciation in 2020, according to a press release from FHA, which factors property prices when determining annual limits. The administration outlines the specifics in a Mortgagee Letter on 2021 Forward Mortgage Limits as well as a Mortgagee Letter on 2021 Home Equity Conversion Mortgage (HECM) Limits.).The new loan limits are effective for FHA loans assigned on or after January 1, 2021.The National Housing Act requires FHA to set single-family forward loan limits at 115% of median home prices, regionally, explains FHA.Via press release, FHA Commissioner Dana Wade commented on the 2021 loan limits.”FHA has seen consistent increases in loan limits during the past few years, putting it in a position to serve a segment of borrowers that may be better served by the conventional market. FHA’s mission is to support low-to-moderate income borrowers, so why does the law permit FHA to insure mortgages up to $822,375? This is a question for Congress and the taxpayers who stand behind FHA to answer.”The announcement comes on the heels of FHFA’s loan limit increase, published last week.The FHFA’s limits dictate Fannie Mae and Freddie Mac lending and also are used to define the loan limits for the HUD/FHA program.The National Association of Realtors last week released a statement on the FHFA’s action, saying, “With home prices setting records in many U.S. markets,” the organization “is pleased to see the FHFA raise its national conforming loan limits for 2021.”In its November 13 Annual Report to Congress covering the financial status of FHA’s Mutual Mortgage Insurance Fund for the fiscal year 2020, FHA provides recommendations for addressing the risks and flaws in current FHA loan limit calculations. However, due to the “statutory nature” of these provisions, HUD says it cannot fully address the concerns without Congressional action.According to HUD, “due to robust increases in median housing prices and required changes to FHA’s floor and ceiling limits, which are tied to the Federal Housing Finance Agency (FHFA)’s increase in the conventional mortgage loan limit for 2021, the maximum loan limits for FHA forward mortgages will rise in 3,108 counties.”In 125 counties, FHA’s loan limits will remain unchanged.Regional loan limits are calculated according to home values in the respective area.”It has been HUD’s long-standing practice to utilize the highest median price point for any year since the enactment of the Housing and Economic Recovery Act (HERA),” according to the press release.For the full press release on FHA loan limits, to find a complete list of FHA loan limits, areas at the FHA ceiling, areas between the floor and the ceiling, as well as a list of areas with loan limit increases, visit FHA’s Loan Limits Page.Read more on the FHFA loan limits announced last week, here. December 2, 2020 1,229 Views Demand Propels Home Prices Upward 2 days ago Print This Post The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: The CFPB Adds Five to Its Executive Team Next: New Forbearance Requests, Re-entries Lead to Overall Increase Data Provider Black Knight to Acquire Top of Mind 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago FHA Raises Single-Family Loan Limits Share Save Servicers Navigate the Post-Pandemic World 2 days ago 2020-12-02 Christina Hughes Babb About Author: Christina Hughes Babb Related Articles Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe
NOTTINGHAM, England, CMC – Shai Hope and captain Jason Holder struck half-centuries, but a late batting collapse sent West Indies to a hugely disappointing 15-run defeat to Australia, squandering an ideal opportunity to notch their second straight win of the ICC World Cup here Thursday.Poor officiatingIn pursuit of 289 at Trent Bridge in a contest marked by poor officiating, West Indies were well placed at one stage on 190 for four in the 35th over but then watched as five wickets tumbled for 66 runs, as the Caribbean side paid the price for injudicious strokes late in the innings and ended on 273 for nine off their 50 overs.Hope top scoresHope top-scored with a patient 68 off 105 balls that included seven fours, and appeared to be steering West Indies to victory but his demise in the 35th sparked the West Indies slide, handing Australia their second straight win of the tournament.Holder struck 51 off 57 balls with seven fours and a six and hopes of a Windies victory were kept alive once he remained at the wicket. Mitchell Starc’s return for a final spell, however, sounded the death knell, as he knocked over Carlos Brathwaite (16) and Holder in the 46th over to quickly end the Windies bid.Left-hander Nicholas Pooran struck 40 while Chris Gayle and Shimron Hetmyer both got 21, but West Indies lost wickets at key moments which hurt their run chase.Aussie left-arm seamer Starc claimed five for 46 while fast bowler Pat Cummins supported with two for 41.Tail-ender Nathan Coulter-Nile had earlier struck a career-best 92 and stroke-maker Steve Smith, 73, as Australia recovered from 38 for four in the eighth over to reach 288 all out off 49 overs.Coulter-Nile, batting at number eight, struck eight fours and four sixes in a robust 60-ball knock which dug the Aussies out of trouble while Smith faced 103 balls and counted seven fours.Carlos Brathwaite got wickets at the back end of the innings to end with three for 67 while fellow pacers Andre Russell (2-41), Sheldon Cottrell (2-56) and Oshane Thomas (2-63) finished with two wickets each.
Black Stars head coach, C.K. Akonnor, insists that Asamoah Gyan is part of his plans and ideas for the national team going forward.Gyan has not played for the Black Stars since the 2019 AFCON tournament in Egypt and following his exclusion from the 23-man team named to face Sudan this month, there has been speculation that the North East United striker has quit the national team.However, Akonnor says he has not had any indication of Gyan’s retirement and the player is still with the national team.“The last time I checked, Asamoah Gyan had not retired from the national team. He remains the general captain of the team.I had a chat with him at the Accra Sports Stadium when Kotoko took on Bechem United (in the Ghana Premier League) and he never told me that he had retired or that he did not want to no longer play for the team.So, I consider to be part of the team.”It is likely Gyan could get back into the team especially as Akonnor stated that the players who had missed the Sudan ties were not totally out of his future plans.What does Gyan make of Akonnor?The player has been complimentary of his newest coach in the Black Stars. In an exclusive interview with Pulse.com.gh, Gyan stated how highly he rated Akonnor and he was of the opinion that he would a lot of support from all the stakeholders if the Black Stars will be hugely successful under the former Wolfsburg captain.“CK [Akonnor] is a good coach. Although he coached the local teams here, I didn’t see him that much until the Black Stars played a friendly game against Kumasi Asante Kotoko at the Baba Yara Sports Stadium.I saw his tactics, I saw how he arranged players, I saw his IQ, I saw something in him. After the game, I went to him and I told him he can be a very good coach. And lo and behold he is a coach of the national team.I’m not saying he is the best coach but he is a good coach and I think if we give him the confidence and we give him what he wants, definitely I’m sure he is going to do well.”