fhasecure: FHA Training For Loan Officers and Mortgage Offices
- 09/22/08 06:04 AM
As most people who have read this blog for long know, I am a huge fan of the training materials on FHA produced by Chip Cummings. Chip just returned home from the Atlanta HUD Home Ownership Center where he was actually training FHA on how to do FHA! I use the "ABCs of FHA Lending" manual every day myself. With FHA seeming to change daily lately, keeping up with all the changes in a handy reference is very important. I'm really excited about a couple of things that Chip has done lately in response to requests from loan officers. The first … (1 comments)
fhasecure: FHASecure: What In The World Is Going On?
- 01/16/08 01:13 PM
Two issues today. Issue Number 1: FHASecure Personally, I have pretty much given up on FHASecure. If I find someone who miraculously actually qualifies for the program, their second mortgage holder often insanely refuses to resubordinate their lien. It is my opinion, though, that the substantial publicity for this loan program has caused more people to look into using the FHA program after they thought they had no way to refinance their mortgage due to falling home values. There has been a real value to that. The standard FHA program already provides a solution for many. They had no other choice … (1 comments)
fhasecure: Only 266 FHASecure Loans Closed So Far!!
- 12/18/07 05:54 PM
I just caught an article in Reuters which reports that only 266 FHASecure loans have closed since September! You can find out more about at:
I know that I have been hearing grumblings about it from loan officers, but this is unbelievable!!
… (4 comments)
fhasecure: FHA Secure Refinance
- 12/13/07 04:09 PM
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 above today's FHA mortgage limits. Legislation is under consideration that would raise those limits, but nothing is in place yet to do so. If this FHA reform does pass, many thousands of home owner's will be helped.The HUD Mortgagee Letter announcing the FHASecure program states:"If the new maximum FHA loan … (0 comments)
fhasecure: FHASecure Update and Foreclosure News
- 11/04/07 04:50 PM
The FHASecure program was officially announced in September 2007, however it was not until the last few weeks that a “pool” was created for the mortgage backed securities necessary to raise the money to fund loans made under the program. In spite of that delay, FHA Commissioner Brian Montgomery announced before a Congressional hearing on Friday, November 2, 2007 that 540 lenders are officially offering the program and more than 70,000 conventional borrowers have applied for FHA loans under the program! In addition, Commissioner Clark relayed the latest news about the FHA program’s default rates. With nationwide foreclosures hitting new records … (0 comments)
fhasecure: FHASecure - Free Teleconference/Webinar for Loan Officers
- 10/04/07 06:05 AM
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 lot of good information from the first call.This call is for all the loan officers and real estate agents wondering how the FHASecure program can be used to help more borrowers solve their subprime problems. I know HUD’s original training call was customarily confusing.Chip will be going over the new … (0 comments)
As most people who have read this blog for long know, I am a huge fan of the training materials on FHA produced by Chip Cummings. Chip just returned home from the Atlanta HUD Home Ownership Center where he was actually training FHA on how to do FHA!
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