Dustan Shepherd's (203klender) Blog

Mortgage and Lending - HomeBridge Financial, LLC NMLSR 260770
  This is a reblog of a recent blogpost by Jay Markanich of Jay Markanich Real Estate Inspections, LLC - A Bristow, Virginia. The article on roofing is well written and highlights many important points on examining a roof for acceptable craftsmanship and material acceptability. As a 203k lender a...
HUD has released its fiscal year-end FHA loan endorsement figures for 2010 (year ending September 31, 2010). As you can see by the chart below the number of 203k loans insured in 2010 was in excess of 22,000. Over the past five years the 203k has seen an increase in production from 2,924 loans in...
HUD this afternoon released the attached Mortgagee Letter 11-10 notifying lenders that with case numbers assigned on and after April 18, 2011 the annual premium will increase 25 basis points. The one-time upfront fee will stay at 1%. With loans in excess of 95% LTV the annual premium will move fr...
Over the past few weeks I have been combining my blogs, 203k guidelines, links and housing studies into one website. With the website rebuild (I used wordpress Thesis and built it myself!) and the pick up in business I have not had a lot of time to blog. I hate to post blogs from my other sites b...
In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Federal Housing Administration (FHA) Commissioner David H. Stevens today extended FHA's temporary waiver of the agency's 'anti-flipping rule.'  The extension announced to...
Over the years I have followed the  Environmental Building News located at buildinggreen.com. This issue marks the 20th year for the publication. Their first article for the year "A Green Building Wish List: Policies, Trends, and Products for 2011 and Beyond" is a must read for all residential re...
Over the weekend, I received a purchase contract with a sales concession of $3,900 or 9.75%. The purchase price is $40,000, with estimated repairs of $125,000. Sales concessions are calculated on the purchase price. In this case, 6% of $40,000 is a maximum of $2,400; the remainder of the funds wo...
Under the FHA Energy Efficient Mortgage (EEM) Program, a borrower can finance into the mortgage 100 percent of the cost of eligible energy-efficient improvements, subject to certain dollar limitations. To be eligible for inclusion into the mortgage, the energy-efficient improvements must be cost-...
A few days ago, I wrote about the assumability feature for FHA loans. Another program feature that has not been discussed much over the past few years is the adjustable rate mortgage. With rates near all-time lows, it may not make sense for most borrowers to choose an ARM. However, if you plan on...
If asked, how many real estate professionals could tell you that FHA 203(b) loans can be assumed by an owner-occupied creditworthy buyer? I bet that if a survey was taken today within the real estate community, you would be surprised to learn how many have no idea about this assumability feature....

Dustan Shepherd

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