fha: Ahh... The Pendulum Is Swinging Back Our Way! - 05/19/10 06:52 PM
FHA Property Flipping Policy Update Our Coldwell Banker Mortgage loan officer, Marie Funston, always speaks at our sales meetings Tuesday mornings. I look forward to her topics and updates and this week she talked about updates on FHA property flipping guidelines. The current guidelines prohibit resales occurring up to 90 days or less following acquisition by the seller. The 90 day timeline is based on the time that has elapsed between the date the seller acquired the property (based upon the date of settlement) and the date of execution of the sale contract that will result in the FHA loan (the … (10 comments)
FHA has delayed implementation of the new appraisal rules until February 15, 2010!
In case you missed the implementation of FHA cases as of January 1, 2010 see below a brief summary of rules delayed: * The appraisal validity period is reduced to four months for all property types. Previously, appraisals were valid for six months on existing properties and up to 12 months on new construction. *Appraisal portability. When a customer switches from one lender to the other, the first lender must transfer the appraisal to the second lender at the customer's request to prevent delays in … (6 comments)
Marie Funston with Coldwell Banker Mortgage always keeps us updated on changes in the lending industry (which this past year has been numerous). For further information you can reach her at 512-750-7270 or marie@austinmortgageadvisor.com. Her latest advisory is about the new FHA Requirements being implemented as of January 1,2010: Effective for FHA case numbers issue as of January 1, 2010, there are new requirements for FHA case numbers affecting all lenders originating FHA-insured mortgages: The new FHA requirements are in line with the Home Valuation Code of Conduct (HVCC), which became effective May 1, 2009, on conventional loans. Here … (2 comments)
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Dorie Dillard Realtor® Canyon Creek NW Austin TX homes for sale
Welcome to my ActiveRain real estate blog and profile. I'm a Realtor with Coldwell Banker United and specialize in NW Austin. Once a school teacher I still like the learning process. Only now I enjoy learning what dreams my clients have and what I can do to help them.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
FHA Property Flipping Policy Update
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