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fha refinance: NAMB testifying about FHA before Congress - 10/07/09 08:01 PM
The NAMB has announced that it will testify before Congress Thursday, October 8, at the House Subcommittee on Housing and Community Opportunity.
Expected time is 2pm. Some of the major points in the prepared statement are:
Consumers benefit from working with brokers, many of whom who have working relationships with one or more banks Mortgage brokers facilitate competition in the marketplace and help drive down origination costs NAMB consistently advocated for a licensing and registration regime for all mortgage originator which has helped establish higher level of professionalism in the broker industry NAMB supports the goal of appraiser independence, but HVCC … (0 comments)
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fha refinance: FHA refinance guideline changes - 12/29/08 05:16 PM
Many FHA loan program changes were included with the Housing and Economic Recovery Act that was passed in July. The big announcement was dropping the seller funded downpayment assistance, which has impacted the home sales market significantly and adversely.
Another change was in the calculation of FHA loan to value for purchases and refinances. The maximum LTV was increased to 100%, to include the FHA upfront mortgage insurance premium. The tiered mortgage insurance premiums were changed to a set premium of 1.75%.
The mortgagee letter announcing the details of this change was poorly written, and left much needing clarification. The clarification … (3 comments)
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Richard Smith FHA VA Rural Development in TN GA
Chattanooga,
TN
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Address: 1961 Northpoint Blvd, Suite 110, Chattanooga, TN, 37343
Office Phone: (423) 280-0345
Cell Phone: (423) 280-0345
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NMLS ID: 184479; GA – 28928; TN – 40161;
1961 Northpoint Blvd., Suite 110, Chattanooga, TN 37343,
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