fha changes: ***More FHA Changes Effective 04/01/2012 - 03/06/12 04:39 AM
Per FHA Mortgagee Letter 2012-03, FHA will be adopting a few more changes effective 04/01/2012.  One of the changes is regarding collection accounts.  This could impact many borrower’s ability to qualify or possibly delay a borrower in qualifying for the FHA loan.
 
Excerpt below:
 
                             OLD Guidance                                                            NEW Guidance
 
 
* Exception: An exception to the payoff of a court-ordered judgment may be made if the borrower has an agreement with the creditor to make regular and timely payments, and provides documentation indicating that a minimum of three months payments have been made according to the agreement. The … (0 comments)

 
Doug Capps, MMS, CLO, CRMS (Guaranty Bank & Trust Co) Rainmaker large

Doug Capps

MMS, CLO, CRMS

Hernando, MS

More about me…

Guaranty Bank & Trust Co

Address: 2600 Panola St, Hernando, MS, 38632

Office: (662) 298-0131

Mobile: (901) 412-9590

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