Penny Fagan's (pfagan) Blog

NAMB officials met with FHA Commissioner to discuss mortgage broker participation in FHA. View the press release here http://ow.ly/lbV0

If you have clients looking the time to get it in writing is definitely NOW!!!! Buyers have to CLOSE by Nov 30th, not be under contract, but CLOSE.  With that date coming up, roughly 14 weeks from now, you might want to knock this out early on and not be a part of the last minute insanity.  I am ...

To get the $8000 Tax Credit you must purchase a home BEFORE Dec 1st.  If you have clients looking, with turn times and underwriting guideline changes, I would STRONGLY suggest they go ahead and enter into a contract ASAP!  If they want to go Rural, I certainly hope you already have in a contract!...

Since I have not posted a blog in a week I thought we could just catch up.  Mortgage land is ever changing.  Rural Housing's underwriting system GUS has been DOWN for three days.  To compound that issue, the local RD office is on a 15 to 20 day turntime, IF THEY EVER GET GUS back up and running. ...

Getting ready to head out for another fantastic NABC meeting.  This referral group has passed over $30,000 BUSINESS dollars this year, if that number is not correct I will post it next week!!!!!  We do mean business at our meetings.  We have Chiropractic Doctor, Lawyer, Dentist, Financial Advisor...

Meeting in Birmingham with Ranking House Member on Financial  Serivces Committee Spencer Bachus!  We have the hope that many brokers, realtors, appraisers and lenders will show up with letters from CONSUMERS that have been harmed by the HVCC.  I have my letter and will be there!  I hope you will ...

Government Affairs HVCC Alert     Your efforts to fight the HVCC are not going unnoticed!   Thanks to you, on Wednesday, July 22, the Federal Housing Finance Agency (FHFA) issued a notice on the HVCC in an attempt to stem increased criticisms about its affect on the mortgage and housing industri...

Tonight I am just venting on an issue near and dear to my heart today.  LENDER ADD ON guidelines above and beyond the standard FHA, VA, FNMA, FHLMC and RD guidelines.  OK, the Government wants us to be able to make mortgage loans using THEIR guidelines.  AND the Lenders want to make the loans, BU...

Today is busy busy!! www.nabconnection.com is up first.  Best business referral group in Decatur, Alabama.  We do actual business! Then City of Decatur HOME program.  Helping people go from renters to homebuyers~~First time homebuyer program Last year the program paid up to $4000 towards the clos...

FTC Announces Expanded Business Education Campaign on ‘Red Flags' Rule To assist small businesses and other entities, the Federal Trade Commission staff will redouble its efforts to educate them about compliance with the "Red Flags" Rule and ease compliance by providing additional resources and g...