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first time homeowners: New Law Allows More Brokers To Close FHA Loans - 12/19/07 12:51 PM
Per conversations with members of Dole's staff - understand the following is accurate.
H.R. 1852 cleared House of Representatives mid-September.  This legislation, loosely referred to as FHA Reform, is included in Dodd's Bill S.2338.  Now that both the House and the Senate have FHA legislation, senior members of both the House and the Senate are able to take their respective versions into conference committee to work out the differences between the bills.  Members in both the House and the Senate will want to keep certain provisions from H.R. 1852 in the final bill they will send to the President.   It is important to remember … (8 comments)

first time homeowners: Where's FHA when You Need It?!? - 10/31/07 10:38 AM
According to a recent report- The PMI companies will soon be dropping like MORTGAGE COMPANIES!
3Q Earnings: PMI's Outlook Unclear; Worst of 2/28 Resets OverAmerican Banker (10/31/07) P. 13; Terris, HarryFollowing the announcement of a $372 million third-quarter loss by rival MGIC Investment Corp. earlier this month, mortgage insurer PMI Group Inc. confirms that it lost $86.8 million during the period after reporting earnings of $104.2 million during the same three months of 2006. The company blames 2/28 hybrid adjustable-rate mortgages and home loans with loan-to-value ratios exceeding 97 percent, but it notes that it decreased the number of 2/28 hybrid ARMs … (2 comments)

 
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