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fha: Encinitas CA: Residential Loan Specialist In Encinitas - 05/03/12 06:33 AM
As a residential loan specialist in Encinitas, Kevin Kueneke has been helping people finance their homes for over nineteen years. A firm believer in the old saying that “land is the basis of all wealth”, as a residential loan specialist in Encinitas, Kevin has worked hard to help his clients achieve a piece of that wealth through home ownership. Helping clients navigate through the multitude of financing options available, Kevin is able to tailor a mortgage to fit their specific needs in what may be the largest financial transaction in their life. Being a residential loan specialist in Encinitas, Kevin is able … (1 comments)

fha: New Homes In Vista CA - Plan 1 In Phase 2 Of Vista's Tesoro - 04/08/12 07:11 PM
New Homes In Vista CAPlan 1 In Phase 2 Of Vista's Tesoro
Prequalify today with Tesoro's Preferred Lender, Kevin Kueneke of AmeriFirst Financial, by calling 760-500-1919 or apply online: www.kevink.amerifirst.us.  Tesoro welcomes Conventional, FHA, and VA financing.
Only one Plan 1 remains in Phase 2 at Vista's Tesoro. Plan 1 in Vista's Tesoro features 3 bedrooms and 3 baths. This 1,800 square foot home also has an enormous tandem garage with enough space for four cars. Or use the extra space to store your toys and tools.
These detached condominiums live like single famliy homes. Sunny skies and warm ocean breezes, … (0 comments)

fha: FHA Condo Approval Update - 11/10/10 01:29 PM
If you have gone to the FHA condo approval site this week, you would have seen that condo complexes that have approvals expiring on 12/07/2010 now have a notation below the date: nearing expiration. 
This is of course a concern for anyone hoping to open escrow on such a property, or for anyone that is currently in escrow with a closing date after 12/07/2010.  FHA/HUD has not officially announced what exactly will happen to these approvals when the clock strikes midnight, so I called them.
The FHA/HUD rep that I spoke with this morning from the Santa Ana FHA hub clarified that … (1 comments)

fha: FHA Posts Updated Condo Recert Requirements - 10/27/10 03:04 PM
FHA changed their condominium approval process earlier this year.  Prior to February of 2010, once a condo complex was FHA approved, it was basically "forever" approved.  Also, FHA allowed individual condo's in non-FHA approved complexes to be "spot" approved.
Now, however, condominium complexes must be recertified every two years, and the spot approval process is no longer allowed.  Unfortunately, some complexes that wer previously approved will not be certified due to other changes in FHA guidelines, namely, FHA concentration, owner-occupancy, etc.
Per the HUD website, the following is a list of the updated FHA condominium recertification requirements as of October 26, … (0 comments)

fha: Bank of America Ceasing Wholesale Lending - 10/06/10 05:32 PM
Just like Chase a few years ago, Bank of America announced yesterday that they are exiting from the wholesale mortgage channel.  Remember, there are three types of mortgage platforms:
•1.     Retail lending - loan officers that work directly for a bank
•2.     Correspondent lending - mortgage bankers that underwrite/fund in-house and sell the bank closed loans (like Primary Residential Mortgage)
•3.     Wholesale lending - mortgage brokers that rely on the bank to underwrite and fund their loans.  This last group has been cut off by BofA.
If you have a client that is working with a broker, and that broker is … (6 comments)

fha: New Conforming Loan Limits Announced For 2009 - 11/11/08 04:56 PM
After months of speculation, we finally know what the new 2009 high balance conforming loan limits are for San Diego and other "high cost" areas.  The Federal Housing Finance Agency (FHFA) said that the $697,500 number we enjoyed for part of 2008 is dropping to $546,250 in San Diego.
Some areas such as Los Angeles-Orange Counties, San Francisco, San Jose, and Santa Cruz are having their 2009 numbers set at the new maximum of $625,500.
According to FHFA's press release, the 2009 loan limits were calculated using 115% of median house prices as determined by the Federal Housing Administration (FHA) whereas … (0 comments)

fha: FHA Tries To Limit "Buy And Bail" Purchases - 09/25/08 04:12 PM
I recently wrote a post about FNMA's underwriting guideline change regarding retaining a principal residence as a rental when buying a new home.  The gist of the new guideline is that the retained property needs to have a minimum of 30% equity in order for rental income to be used to help qualify for the new home.  Otherwise, the buyers must have an increased amount of reserves in the bank and also sufficient income to carry both mortgages.
Lenders used to allow buyers to merely provide a rental agreement and then use a portion of that rent to offset the house … (0 comments)