fha mortgages: FHA Stormfront - 03/13/08 11:44 AM
There's something going on in the world of FHA loan origination that I find very troubling. Particularly since the FHA loan program is being so highly touted as the savior of the housing crisis.
Every day, loans that make sense but are "on the borderline" - i.e require extra documentation and … (2 comments)
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fha mortgages: FHA Mortgage Reform: When Will Petty Politics Ever End! - 01/05/08 05:44 AM
FHA Mortgage Reform could again be delayed by ridiculous political antics. Who else but a bunch of politicians could take what should be a simple sprucing up of a program which is basically good enough already, needing only to be expanded to include a few more people, and turn it into … (3 comments)
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fha mortgages: Is It A Good Idea To Make It Easier For Mortgage Brokers To Do FHA? - 12/22/07 11:14 PM
The new FHA Modernization Act looks like it will end up making it easier for mortgage brokers to get approved for the FHA program. Eleanor Thorne of New Garden Mortgage in NC wrote about it here. I'm a little unsure about it. I sincerely want to see the FHA program made … (6 comments)
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fha mortgages: Update: FHA Reform Bill Passes The Senate - 12/14/07 04:30 PM
The Senate has just passed legislation that would open the door for FHA to become more competitive in the marketplace! The FHA Modernization bill, which now heads back to the House for “reconciliation” before heading to the White House, had been stalled in the Senate for weeks.
Details still to be … (0 comments)
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fha mortgages: FHA Secure Refinance - 12/14/07 12:09 AM
Will the 3 month old FHASecure Initiative save all the borrowers with subprime mortgages facing foreclosure? The crystal ball is still a little murky on this issue. However, according to statistics, more than 40,000 FHA Secure loans have been approved. Many of the subprime mortgages at issue have loan amounts far … (0 comments)
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fha mortgages: FHA Mortgage Reform: Finally Some Good News - 12/13/07 10:59 PM
According to several reports I have read, Senator Tom Coburn from OK, whom I came down hard on in a previous post, has let it be known that his objections to the FHA reform bill are small and primarily have to do with reverse mortgages. In an exchange with Senator Charles … (1 comments)
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fha mortgages: FHA Mortgage Reform: More Petty Misguided Politics In Action - 12/10/07 12:27 AM
Everyone interested in FHA mortgages needs to take a look at two informative blog posts. FHA mortgage reform is still being held up in the Senate for petty political reasons. You can find the information about it at
FHA Mortgage Reform: More Petty Politics In Action
You can also find an excellent article … (2 comments)
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fha mortgages: Manufactured Home Refinance With FHA Part I - 10/11/07 10:41 PM
More information about FHA financing is available at FHA Loan Advice.
Purchasers of manufactured homes often use short term financing from a bank (for example, a five year balloon note) or short term, high interest rate owner financing to cover the cost of setting up their new home. Since each of these … (3 comments)
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fha mortgages: FHA Social Security Number Verification Update - 10/11/07 01:44 AM
Just a quick note for agents/lenders. FHA has made a minor change in their Social Security Number verification process. Details are below this paragraph. At first glance this change doesn't seem significant at all, but note the sentences in bold. If you are in a hurry on a file there may … (0 comments)
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fha mortgages: More FHA Down Payment Confusion! - 10/09/07 12:30 PM
I got a very interesting fax this morning from the Futures Down Payment Assistance group. They quoted a press release from Oct. 1st from Reps. Maxine Waters, Gary Miller and Al Green (I thought he was a singer) chastising HUD for getting rid of the program and saying Congress was going … (1 comments)
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fha mortgages: FHASecure - Free Teleconference/Webinar for Loan Officers - 10/04/07 01:05 PM
Attend a FREE teleconference/webinar on the FHASecure program by one of the leading FHA experts in the country, Chip Cummings!
Over 3100 people registered for the training call on Monday and many couldn't get through, so there is going to be another call on Monday Oct. 8, 2007. I picked up a … (0 comments)
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fha mortgages: Warning: Why HUD May Stop Your Loan From Closing - 10/03/07 05:54 PM
Several years ago a problem cropped up all across the mortgage/real estate world and started causing a lot of problems for lenders whenever a mortgage defaulted. Every Tom, Dick and Harry that stayed up late at night wanted to become a real estate investor and "flip" houses. There is a very … (4 comments)
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fha mortgages: FHA Training for Loan Officers - 10/02/07 09:50 AM
The credit crunch that we are going through right now has delivered a devastating blow to the loan pipelines of many in the mortgage industry. I cannot recommend highly enough that those who are licensed in areas of the country where there are loans under the FHA limit to be done … (1 comments)
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fha mortgages: GA Bad Credit Mortgages - Refinancing Using FHA During the Subprime Mortgage Meltdown - 10/02/07 02:38 AM
Every time you turn on the news, there is a new headline trumpeting the meltdown of the mortgage industry. Obtaining a conventional mortgage is becoming more difficult by the minute. Qualification guidelines are tighter than they have been in years.This meltdown is occurring at the same time a record number of … (0 comments)
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fha mortgages: Alan Greenspan’s New Book “The Age of Turbulence: Adventures in a New World" - 10/02/07 02:27 AM
For those who don’t know, Alan Greenspan was the Chairman of the Federal Reserve Board from August 1987 through January 2006 and a very important person in the lives of those of us who make a living providing mortgages. Many people have blamed him for the subprime mortgage meltdown that is … (1 comments)
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fha mortgages: 5 Myths About FHA Loans - 10/01/07 11:56 PM
FHA loans are a great tool that allows many potential first time homebuyers with past credit problems to break into the housing market. Prices are low and seller concessions are high in the today’s real estate buyer’s market. However, many of the subprime mortgage 100% financing deals are gone. FHA is … (4 comments)
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