fha: HUD Sucker Proxy....continues
- 01/20/10 02:18 AM
Yes HUD (and our government) is at it again and yes the mystery continues as to why they do what they do. Great thinking on the yield spread premiums, the revised good faith estimate, HVCC appraisal mess, the elimination of a cost neutral down payment assistance program....do I need to go on? HUD has decided that the seller can no longer contribute 6% toward closing costs and or prepaid expenses. Instead they say the magic ....the place where the healing begins....is 3%. YES, 3% is the magical number and will solve unemployment, the real estate collapse, too big to fail and that … (0 comments)
fha: HUD's Shaun Donovan an innovator? I say Fire Donovan NOW!
- 12/10/09 05:33 AM
The New York Times says the following about Shaun Donovan Housing Urban Development (HUD) Secretary.... "He developed a national reputation as an innovator along the way, holding to a middle ground between free-market forces that opposed government controls and liberal groups that believed only government and nonprofits could be counted on to provide housing for the working class." "Mr. Donovan has experience in all facets of the affordable housing market, having worked in both the nonprofit and private sectors and in academia as a scholar of housing policy. He has even worked as an architect in New York and Italy." Really? So far … (3 comments)
fha: OOPS, HUD did it again....
- 10/22/09 05:06 AM
Stealing and changing the title a bit from the Britney Spears "hit" song whenever it came out was inspired by HUD's latest announcement that it is considering "Civil Money Penalties" against the FHA underwriter if HUD FEELS (I emphasize the word FEELS) the underwriter didn't underwrite the loan properly. HUH? I wonder if Britney Spears is now in charge of HUD. Nope it is Housing Secretary Shaun Donovan the man on an island along with the rest of Washington DC. Does anybody really believe our government and its agencies know anything? Timothy Geitner Treasury Secretary recently stated "regulatory overhaul without limiting consumer choice … (2 comments)
fha: Isn't this the market we've been waiting for?
- 09/06/08 07:16 AM
As the hand wringing continues and the lenders inexplicably refuse to play with each other, the government (Barney Frank and friends) continue to blow hot air pretending they are protecting the consumer, while the ultimate self promoter (NY Attorney General) Cuomo continues to blather, while the Down Payment Assistance Programs are sunsetting because some genius thinks that has something to do with the credit crunch, there is something GREAT GOING ON! Isn't this the market we've been waiting for? Low interest rates (they dipped again) Low home prices and it takes 3% to get into a home unless you qualify for the USDA program … (1 comments)
fha: King, Pierce & Snohomish Counties FHA and Conventional Loan limits INCREASE
- 03/06/08 10:18 AM
It is official. DC finally picked "the number" that will "save the world" here in the pacific northwest however when you thought it would give the lower tiered jumbo loans a pricing break because of it well think again! In the past anything over the conforming $417,000 limit kicked in the higher jumbo pricing matrix so the lifting of the limit may just be another superficial little exercise for the politicians on both sides of the isle allowing them cover to proclaim...."look what we did!". We will see. The new SFR loan limit will be $567,500. In addition to the pricing disappointment of course the secondary market … (0 comments)
Yes HUD (and our government) is at it again and yes the mystery continues as to why they do what they do. Great thinking on the yield spread premiums, the revised good faith estimate, HVCC appraisal mess, the elimination of a cost neutral down payment assistance program....do I need to go on?;)
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