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Home : Blogs : David Doerr : David Doerr's Utah Home Loans BLOG : Archives December, 2009

Proposed FHA changes to lender approval - 12/01/09 03:33 PM

FHA's proposed rule changes were published in today's Federal Register regarding lender eligibility and net worth requirements.
In addition FHA published a new mortgagee letter, ML 2009-50 and announced the 2010 FHA loan limits.
There are 5 things everyone needs to know about the proposed changes to lender FHA elegibility: If accepted, changes will take effect January 1, 2010 FHA proposes to no longer approve mortgage brokers/correspondent lenders for participation in FHA programs. Sponsoring Lenders must assume responsibility for any mortgage broker/correspondent lender they do business with. Sponsoring lenders assume full liability for the loans they accept from mortgage brokers/correspondent lenders. Net worth requirements for … (4 comments)

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David Doerr

Spanish Fork, UT

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Cache Creek Capital

Address: 1417 East 820 South, Spanish Fork, UT, 84660

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