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fha mortgagee letters: New updates for FHA Mortgages - Changes in LTV & credit scores - seller concessions? - 09/05/10 12:29 PM

 
In the last 10 months or so, FHA has announced some proposals and these proposals are now becoming reality for FHA Mortgages.  Just last week, FHA increased the monthly mortgage insurance and reduced the upfront mortgage insurance. If you missed this one, you must familiarize yourself with these changes, because it could increase the borrower's monthly mortgage payments from $20 to $120 a month, depending on the purchase price.
Changes in FHA mortgages for the monthly mortgage insurance & UFMIP
The newest change, as of September 3rd, 2010, has officially set credit scores for all FHA loans now. Previously, FHA never had … (8 comments)

fha mortgagee letters: FHA / HUD sets standards for Mortgagee Monitoring - 04/09/09 01:43 PM

For many that don’t know, FHA was created by the National Housing Act of 1934. What people need to understand is that FHA doesn’t make the loans, but that they insure the mortgages for the lenders sake.  The investors/lenders are the entities that make loans to borrowers. HUD, which stands for U.S. Department of Housing and Urban Development, is a government agency that was started in 1965 to help homeowners achieve that American Dream. They help borrowers with HUD approved programs, approves lenders to be FHA approved, and helps borrowers utilize the programs and guidelines set forth for FHA loans. Again, FHA is does … (32 comments)

 
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Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Cherry Hill, NJ

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Address: Cherry Hill New Jersey 08034 08002 08003, Haddon Heights New Jersey 08035, Haddonfield, NJ, 08033

Cell Phone: (609) 440-5133

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I just want to educate people about mortgages and the process. In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.







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