Qualified for the new FHA Special but cant close?

Mortgage and Lending with US Mortgages - David Shamansky NMLS#392126

Qualified for the new FHA Special but cant close?

Don't feel like your lender left you holding the bag its not exactly their fault.

After Wells Fargo decided to announce it will NOT participate in the funding or servicing of these loan unless you are a current Wells Fargo customer and your loan meets guidelines (terms for the new FHA special of .01% up-front MIP and .55% monthly MIP, instead of 1.75% up-front MIP and 1.25% monthly MIP) the market started feeling backlash.

Others have followed suit and major national lenders started announcing the "fire sale" panic of lock and close and FUND before 6/29 or you dont have a loan at all from Wells very bold statement! It infuriates me that WE paid to bail out these corrupt banks and then when the feds step in and draft a program designed to aid consumers to save money the very banks WE bailed out turn a cold cheek and say... no thanks we are not going to participate!?!? To add insult to injury this call then spurs others to do the same?

Now what do you do if you are the fortunate owner of an FHA insured loan that happened on 5/31/09 or prior?

Fear not Colorado qualified FHA borrowers, US Mortgages can and DOES allow for the funding and closing of these loans and we even allow for credit all the way down to a 600 on them. Standard qualifications apply for this special streamline product that enables borrowers to get instant savings and add nothing to their loan balance but acting now is imperative.

We simply cannot handle all the requests for these loans without adding more staff and properly training them so delays will ensue but act now to ensure a closing in July and get your part of what some call the "best loan product for consumers ever brought out by the feds".

  1. Instant savings
  2. 2 months no house payment
  3. refund of your current escrow account
  4. no increase to current loan payoff! 

makes this a loan that makes you feel like a true Rock Star! (getting paid for your signature)

Remember I often say... Not all Lenders are created equal and neither are the Realtors. Do your homework and find the ones who can meet your goals and needs and one that also has a solid track record for performance!

Have a good weekend and Colorado FHA borrowers who got their loan insured before 5/31/09 can still save thousands of dollars / year for FREE here at US Mortgages.

us mortgages FHA loans 5/31/09 OK here


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Colorado 1st Time buyers, if you are ready to stop renting, get the many benefits from home ownership, or maybe your a current homeowner looking to move up or maybe looking into what it takes to become an investor in this incredible market, that WILL create millionaires, and you are looking for a strategy, answers and direction, please feel free to call or email me. My 22yrs in mortgage lending and 30+ years in finance gives me an in depth knowledge, critical to helping others and making their dreams go from dream to reality!

David Shamansky
"Positive reinforcer, promoter, success coach, entrepreneur, team builder, wealth builder, blessed individual, business leader and professional lender"

US Mortgages
6855 S Havana St Ste 520
Centennial CO 80112
Equal Housing Lender

*photos used may come from my personal pictures or www.freedigitalphotos.net



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fha special refinance loans for 53109 and prior insured mortgages

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Winston Heverly
Winston Realty, Inc. - Atlantis, FL

Any loan program like this is great but at certain price points no Realtor would bother choosing one over a cash offer.

Jun 15, 2012 01:08 PM #1
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Agreed but the funny part (if I wasnt clear) is this is specific to only a refinance participant so you dont have to worry about the finance or your cash buyer wanting to use this they dont have that luxury.


Thanks Winston and have a great weekend

Jun 15, 2012 01:13 PM #2
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

This is why I leave the loans to the lending experts...so may fine points to consider, regard, calculate and define!!!!  

Jun 15, 2012 03:46 PM #3
Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Hey David,

The amount of change in lending is mind boggling.  Hopefully the message of the refinance opportunities is reaching the right homeonwers.  Best of success to you this year!

Jun 15, 2012 05:03 PM #4
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi David - Excellent move! Every time the banks do something like this, it opens up opportunities for those with vision and drive. It's great that you have seen that opening and are there to take advantage of it. Their loss will be your gain - if you can find enough hours in the day to meet the demand.

Jun 15, 2012 11:35 PM #5
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David Shamansky

Creative, Aggressive & 560 FICO - OK, Colorado Mtg
560FICO and High DTI are among some of what we say Yes to
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