JPMorgan’s Dimon threatens to quit FHA loans

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CEO Jamie Dimon said his bank was pulling back, and may ditch completely, FHA lending, a key government program meant to promote homeownership.

During a conference call with analysts, Dimon reiterated his call for further changes to mortgage rules, saying that fixes to problems in FHA and other regulations could unleash a wave of growth in the market. "It’s not going back to subprime, it’s just opening up the credit box and reducing the cost of the average mortgage," Dimon said.

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CEO Jamie Dimon’s JPMorgan paid more than $600 million in federal fines for originating $200 million in flawed FHA loans, and now he and others in the industry want clearer rules spelling out.

A lending giant is threatening to bail on issuing FHA loans, joining a string of other big lenders who are retreating from the program. FHA’s Largest Lender Threatens to Stop FHA Loans | Realtor Magazine

Mortgage servicers sign $26 billion foreclosure settlement The massive billion mortgage settlement between states and banks is. for people with Fannie and Freddie-backed mortgages. More lenders may also sign on to the settlement. Borrowers from.

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier.

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