hud foreclosure: Risk-Based Premiums for FHA Mortgage Insurance
- 07/11/08 04:11 AM
Effective with new FHA case number assignments on or after July 14, 2008, FHA will implement risk-based premiums on one- to four-unit single family mortgages. The premium matrix is shown below, replacing the premium matrix in Mortgagee Letter 00-38, which identifies the current mortgage insurance premiums for FHA's single family programs.
Systems
Lenders are reminded of the importance of data integrity to ensure that the appropriate premium is charged and that the data submitted to TOTAL and FHA Connection is accurate. Also, system edits will prevent lenders from Streamline Refinancing FHASecure loans that were previously delinquent non-FHA ARM … (0 comments)
hud foreclosure: "TWAS AN HOUR BEFORE CLOSING"
- 12/21/07 07:42 AM
Just thought I would pass on a little fun for the holiday. You all remember "Twas the Night Before Christmas"...well here's one for all of us in the real estate world. Enjoy. "Twas an Hour before Closing" 'Twas an hour before closing and the agents were tense, to close Christmas Eve just didn't make sense. But the seller was booked on the 6 o'clock flight and had warned "THERE WILL BE A CLOSING TONIGHT!" The agents agreed ‘cause their business was dead, and visions of commission checks danced in their heads. The loan was approved by the lender's good grace, Everyone knew 'twas a borderline case. The buyers divorced, remarried again, Divorced once more, … (11 comments)
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