FHA Loan Advice

The new FHA risk based mortgage insurance guidelines originally set to take effect Jan. 1st have been changed slightly and are now set to take effect on July 14, 2008. It appears that HUD has answered most of the concerns that I had regarding excluding people without traditional credit. Full deta...

I have come across an excellent source of information on search engine optimization that should be really useful for those in either the mortgage or real estate industries. It's one of the more informative sources I've come across. All content and no fluff.You can find it here: http://www.jennife...

Jeffrey Hogue of the San Diego law firm of Hogue and Belong, and a founding partner of the Mortgage Accountability Association has written a post on Peter Miller's excellent FHA Mortgage Guide blog entitled "Why Don't The Same Rules Apply To All Lenders" that brings up the yield spread premium di...

There was an interesting article in the Wall Street Journal which you can find here - "Uncle Subprime".Take a look at the article. It points out how seriously misguided our lawmakers are, and how completely unaware they always seem to be of the unintended consequences of what they do.If this curr...

The scandals have been swirling HUD Secretary Alphonso Jackson for quite some time. I have been wondering if this looming situation might have been a problem in getting FHA modernization accomplished. It seems that it would be a little difficult to lobby legislators while they are publicly callin...

Here’s something that may be of interest to those of you who originate mortgages. On Friday, March 28th there is going to be a free teleconference conducted by mortgage trainer Chip Cummings and compliance attorney Howard Lax to discuss the new RESPA proposal and how it may affect your mortgage b...

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 ext...

January 26, 2008 - Every time the Federal Reserve cuts the Fed Funds rate, as they did by .75 percent the other day, mortgage companies are deluged by calls from borrowers with loans in process hoping they can get a better rate. Most of the time the answer is no! Don't worry though - this isn't y...

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 ...

Due to one of the comments on my last post "Its The Underwriting Stupid", I need to make myself a little more clear.I'm not talking about the underwriters but the underwriting rules themselves. The underwriters were just following them. FHA underwriters today get all the same pressures, and had a...