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FHA Adds 40-Year Loan Modification To Loss Mitigation Options » Just over two weeks after proposing the idea, the Federal Housing Administration (FHA) said this week it is allowing mortgage servicers to offer 40-year mortgage modifications to help more borrowers who are behind on their mortgage payments. The new option is intended to help borrowers who can’t achieve a minimum targeted 25% reduction in the principal and interest (P&I) portion of their mortgage payment through FHA’s existing 30-year mortgage modification with a partial claim, the FHA said in a news release.

Department of Housing and Urban Development Timeline » 1892: Congress appropriates $20,000 for the Secretary of Labor to study slums in American cities.11918: The federal government finances the construction of housing for workers in industries that are supporting the First World War.21922: Secretary of Commerce Herbert Hoover launches an "Own Your Own Home" campaign, which seeks to increase homeownership. The program backfires during the depression as mortgage payments…

More than 40% of mortgages withdrawn as market reels after mini-budget » Lenders began pulling products on Monday as they struggled to price products amid financial uncertainty

Fed raises key rate by a half-point in bid to tame inflation » The increase in the Fed’s key short-term rate raised it to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago.

History | INTRUST Bank » Our history is an unbreakable cord tied to our founding principles and fundamental values. Each of us at INTRUST Bank, regardless of job title, makes sure every customer encounter is in the spirit of our tradition.

Hill service workers on shutdown: ‘We don’t know what’s going to happen to us’ » “The government gets their money. But we don’t get any money,” one worker said. “I live paycheck to paycheck.”

Mortgage rates hit 22-month high — here's how you can get a low rate » Mortgage interest rates bottomed out in Jan. 2021. However, they've steadily risen in the past 12 months. Here's how you can secure a low rate for a home loan.

Home prices see biggest drop in 9 years, thanks to higher mortgage rates » The super-heated housing market is cooling off. Home prices have fallen about 6% since their peak in June. The pace of sales also fell for the 7th straight month.

No retreat in the summer heat. Inflation blistering at 9.1% in June » Inflation hit a new, four-decade high of 9.1% last month, fueled in part by record high gasoline prices. Gas prices have since fallen, but overall inflation is still elevated.


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