FHA is doing a Risk Management Assessment - and while it makes sense, in the announcement today, the last paragraph says it is aligning FHA to the FNMA and Freddie Mac model! Yickes! Not sure I …
Better Move Fast Premiums Going Up
April 3rd is the last day to get the cheaper mortgage insurance premiums /financing rates for FHA loans. As of April 4th, MIP, or FHA's version of PMI/ mortgage insurance, rises from 1.75% to …
HUD Makes It Easier To Purchase Foreclosed Property
HUD announced a change in the way it handles property that has changed ownership in the last 90 days. In an attempt to prevent people from "flipping" property (which is FRAUDULENT), HUD required a 90 …
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FHA and Short Sales – The New Ruling
There are no Federal Laws that govern how a Short Sale is reported to the Credit Bureaus. Because of that, and the fact that each State has vastly different laws governing the Foreclosure Process - …
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Mortgage Brokers and FHA
We're kinda Nerdy at my house, and last night we watched a CSPAN discussion regarding the Future of Mortgage Lending in Washington, DC. John Courson (President of Mortgage Bankers of America) and the …
FHA and Non Occupying Borrower In NC
FHA and Non Occupying Borrower In NC is a mortgage loan offered for those who can't qualify for a mortgage loan on their own. The program is great for couples where one spouse has good credit but …
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