Thomas Minetti's Blog

Effective for all FHA case numbers assigned on or after February 15, 2010 The New Appraiser Independence Requirements must be followed on your loan transactions Prohibits FHA lenders from accepting appraisals prepared by appraisers who are selected, retained or compensated by mortgage brokers and...

Have you seen Mortgagee Letter 2010-02, Increase in Upfront Premiums for FHA Mortgage Insurance Effective for FHA loans for which the case number is assigned on or after April 5, 2010, FHA will collect an upfront mortgage insurance premium of 2.25%.  This policy change will increase premiums for ...

With the First Time Home Buyer tax credit being extended and expanded to include move-up buyers, prospective home purchasers now have an unprecedented opportunity right now... Home prices are down significantly in most of the area of Virginia over the past 36 months. Rate are at historic lows.  N...

FHA Waives 90 day No Flipping rule for ONE YEAR!  This is great news for us in the Real Estate market in Virginia, Maryland and the District of Columbia. We come across so many deals that are turned down because of the flipping role.  The new waiver, which takes effect on 2/1/10 should help heat ...

Hello All: If you have a client that is looking for the house of the Century you can't pass on this one!  The address is  http://www.draghiaconstruction.com Let me know what you think about this one!  If you have a client in the Washington Metro area that needs to build on their own lot with a Eu...