This morning, FHA issued the news release below. FHA is very serious about improving the quality of the program. Keep in mind though that many of these “actions” were taken against lenders who had already gone out of business due to the economy. Therefore, they simply did not renew their FHA license.
August 11, 2010 – Webinar: FHA Refinances.
This FREE Webinar will help you better understand the FHA Refinance general guidelines. Presenters will discuss Streamline Refinances, Cash-Out, & Rate & Term Refinances.
Basic calculations will be included in this training for anyone wanting to improve their knowledge of FHA refinances. An emphasis will be on the changes to the Streamline Refinance guidelines.
FHA Commissioner David Stevens issued a warning yesterday to FHA lenders about underwriting and quality control standards. Most of what he discusses are issues I’ve often highlighted on this website.
HUD is seeking public comment on three proposals to help FHA control risk, and stem the losses from claims against the FHA mortgage insurance fund.
In order to be licensed to continue to originate FHA mortgages (or other residential mortgages), loan officers must now pass the NMLS Exam.
Looking for a QUICK Fix to the NMLS Exam? Here is the answer…
The statistics are in….. almost 1/3 of ALL loan originators are FAILING the NMLS test on the first try! Worse yet – only 44% pass on the second try!
Sorry for the very late notice, but due to overwhelming demand, another ONLINE FHA TRAINING has been scheduled:
ABC’s of FHA Lending
July 1-2, 2010
12:00pm – 3:00pm Eastern (9AM Pacific)
FHATrainingSource.com/go/online
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