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FHA Seller Paid Closing Costs to be Reduced - 01/22/12 11:21 AM
To much fanfare, FHA announced measures to better protect their insurance fund in a recent Final Ruling published in the Federal Register.  Slipped in as a footnote to this announcement was a declaration that FHA is deaf to the concerns of the real estate industry.  They are taking aim to again attempt to reduce the allowable seller paid closing costs.  Make no mistake; they wouldn’t be doing this twice if they didn’t fully intend to see it through this time (regardless of industry feedback).
First, a little history (with a touch of nerdy stuff).  On July 15th of 2010, FHA proposed … (3 comments)

The Mortgage Process is Simply the Perfection of a Loan Application - 01/08/12 03:12 PM
Understanding the mortgage process is a constant frustration for consumers. One can search the web and find all kinds of long articles breaking the mortgage loan process into anywhere between 6 and 9 individual steps. Upon reading these, a consumer gets even more confused since each individual step is confusing in and of itself. Unfortunately, the wrong question is likely getting answered in these articles. Most mortgage clients don’t want to become experts on the minutia of processing and underwriting, they just want to know where to start and have an accurate context for why everything happens as it does. The … (34 comments)

 
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Charles Dailey - NMLS ID#79048

Saint Paul, MN

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iLoan - NMLS ID#4474

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