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loan changes: FHA guidelines WILL be tightening in the near future - 12/03/09 07:58 PM

HUD Secretary Donovan testified before the House committee on Financial Services Wednesday. Much of what he had to say concerned the fact that the FHA program is NOT going broke as many have claimed. He says unless things get decidedly worse, FHA will not need a government bailout.
Reasons why FHA won't need a government bailout
The HUD Secretary outlined a number of steps the agency is "drafting" to mitigate future losses. Among them are:
•·         Guidelines to improve enforcement and lender accountability. These will include "holding lenders accountable for their origination quality and compliance with FHA policies and increasing … (5 comments)

loan changes: What the Mortgage Disclosure Improvement Act (MDIA) will mean to our industry - 08/03/09 11:50 AM
On July 30, 2009 the rules changed- are you ready?

The MDIA is effective for mortgage loan applications taken 07/30/09 and thereafter and places many additional restrictions on how we lenders will have to comply with disclosing loan terms to our borrowers. The effort is laudable- to give customers the information they need to properly shop for a mortgage, when they need it; however it represents an awesome example of how badly government can screw something up.
My vantage point for this fuster cluck is that of a Mortgage Banker. I get to see the Bank and Broker side of … (5 comments)

 
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Gerry Suarez Jr- Your FHA Loan Pro!

Mount Dora, FL

More about me…

Mortgage Financial Group, Inc.

Address: 725 E. Alfred St, Tavares, FL, 32778

Office Phone: (352) 742-7900

Cell Phone: (352) 516-9884

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Local information regarding Mortgage lending in Central Florida including Orange, Seminole, Osceola, Lake, Volusia and Marion Counties. Also providing up to date information on HUD and government loan programs, and first time buyer programs. I'm required to tell you I'm not acting on behalf of HUD/FHA or the US Government!


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