fha changes: What Changes Occurred In FHA And FNMA Rules During 2018?
- 03/22/18 02:07 PM
The FNMA HomeReady Program Those who are involved in the mortgage industry must keep updated on changes to FHA, and Fannie Mae (FNMA) loans. Since loan limits and other changes are often made annually, keeping up with these changes helps make sure consumers get the right information at the time of their application. Many of the changes for 2018 are modest, but still impact existing, and new homeowners. Changes To Loan Limit Amounts FHA loan limits change on an annual basis as per the Housing and Economic Recovery Act of 2008. Using this, the FHA is required to base the insured mortgage amounts on 115 … (1 comments)
fha changes: UPDATE - FHA Has Changed The Way They Do Business!!
- 06/13/08 08:15 AM
This update announces the guidelines for FHA's Risk Based Premium model. For the first time in history, FHA will take credit scores into account. These guidelines are effective as of July 14th, 2008. At the bottom of the page is a link to the full update. The 10 primary guideline changes are as follows: 1. Borrowers need either no score, or at least 500, to get a LTV >90%; see matrix below. 2. Borrowers with a score less than 500 get a maximum LTV of 90%. 3. Borrowers without scores will require manual underwriting. 4. Upfront Mortgage Insurance Premiums will range from 1.25% - 2.25%, based on score. 5. The Monthly Mortgage Insurance will range … (1 comments)
The FNMA HomeReady Program
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