The FHA Training Manual used for mortgage loan officer training by industry leaders such as National Association of Mortgage Brokers and hundreds of other companies! This FHA Training Package includes a 380+ page manual, an FHA Refinance Guide, an interactive CD and Free Updates. Read more!
Just a quick heads up about a change to the guidelines for the FHA 95% loan to value cash out refinance program effective for all case numbers issued after January 1, 2009. This change does not apply to the standard 85% loan to value program.
The guidelines already included additional requirements that many loan officers have overlooked when taking applications for 95% loan to value cash out refinances: Read the rest of this entry
This is not an FHA specific guideline update, but it is something that involves bringing in more FHA mortgage business which I think loan originators might be interested in.
Chip Cummings kicked off a SERIOUS mortgage marketing experiment last week!
He calls it the “Mortgage House Experiment”, and he will be helping one of his clients, Tim, with the creation and rollout of a marketing campaign – and YOU CAN WATCH!
It always seems there is another shoe about to drop on the mortgage business these days. Now that rates are so low we are having another refinance boom, it turns out that lenders may not have enough credit on their warehouse lines to keep their pipelines moving. Now the Mortgage Bankers Association has created a task force to make sure the folks at the Treasury Department know what is going on.
Consumers, please listen closely. If you are still holding out hope that a new FHA program is going to save you from foreclosure, then RUN. Do not walk. Find another option before it is too late. Loan officers, stop trying to drum up business for a useless program that had no chance from the start, and then disappointing your borrowers who are already having a bad enough time of it.
This site is primarily focused on providing information for originators of FHA loans, but this post should be useful to both loan originators/processors and consumers. With mortgage interest rates plummeting to record levels, and home sales plummeting as well, many people have a renewed interest in refinancing for lower interest rates and sometimes shorter mortgage terms.
Yesterday Obama named Shaun Donovan, New York’s Housing commissioner who also worked in HUD during the Clinton administration, as his nominee for Secretary of Housing and Urban Development. I don’t know much about him other than what I read in this profile in the New York Times in which there is a quote that turns my stomach a little due to my admittedly slightly hypocritical for an FHA specialist belief that government regulation and meddling is never a good solution: Read the rest of this entry
A lot has been going on in the world of FHA since my last post, so there is quite a bit of catching up to do!
First, let me remind you about the changes that are happening with FHA loan limits and the down payment requirements in January. Don’t let these catch you flat footed with your clients losing their loans. More on that in a separate post.
Consumers, please listen closely. If you are still holding out hope that a new FHA program is going to save you from foreclosure, then RUN. Do not walk. Find another option before it is too late. Loan officers, stop trying to drum up business for a useless program that had no chance from the start, and then disappointing your borrowers who are already having a bad enough time of it.
Yesterday Obama named Shaun Donovan, New York’s Housing commissioner who also worked in HUD during the Clinton administration, as his nominee for Secretary of Housing and Urban Development. I don’t know much about him other than what I read in this 
