Tag Archives: fha
FHA Waives 90 Day Flipping Rule
HUD Secretary Shaun Donovan announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. In an effort to speed the resale of foreclosed properties to new owners, HUD has decided to waive the 90 day flipping rule. They are hoping that this will bring [...]
Full StoryFannie Mae Changes
(This does not affect FHA or VA)
Fannie Mae is changing (for the worse) their underwriting guidelines for conventional loans this weekend. In order to be eligible for the current guidelines, borrowers need to have their loan, with a specific property, approved by Friday night. These changes will be implemented over the weekend. Below is a summary of some of [...]
FHA Key to Housing Market and Recovery
The Federal Housing Administration mortgage insurance program is a critical part of the American housing fabric and has never been more important than it is in today’s market, NAR President Vicki Cox Golder told a congressional panel this week.
Testifying before the House Committee on Financial Services, Golder said that the FHA program is fiscally sound [...]
FHA Steps Up Their Game To Help Home Owners
FHA has made a giant leap to help those struggling home owners out there. With the newly enhanced FHA Making Home Affordable Loan Modification Program, those who qualify will have their monthly mortgage payments reduced significantly. Thus, allowing more people to stay in their homes.
The changes expand the Obama administration’s Make Home Affordable Loan Modification [...]
First-Time Homebuyers Have Advantage in Mortgage Market
First-Time homebuyers and those thinking about refinancing are in a great position. For the third straight week, mortgage rates have fallen according to Freddie Mac.
“The credit markets are tight, but they have loosedned up significantly from 90 days ago,” said Todd Wilson of Wells Fargo.
This means it’s a great time to enter a mortgage transaction [...]
