The USDA recently announced that they will be conducting webinars on both credit underwriting topics, property requirements for anyone interested in learning more about current USDA policies, and upcoming Handbook (HB) changes. In my opinion, this training opportunity is a MUST for all those participating in the USDA loan programs. It is anticipated that rather substantive policy changes will be…
Seems people are always looking for shortcuts. Ways to get where they’re going more quickly or make what they need to do much easier. I’ve found that in all too many instances when looking for, and taking, these shortcuts it leads to more trouble than its worth, and it takes more time and effort to get where you want to…
HUD/FHA’s Electronic Appraisal Delivery (EAD) Portal Deadline Approaching The HUD/FHA Electronic Appraisal Delivery (EAD) portal will become mandatory for use by all mortgagees on June 27, 2016. In order to prevent huge disruptions in their FHA loan origination pipeline, “lenders are encouraged to get registered for onboarding to the EAD portal before the effective date”, was the word from HUD…
“Lenders are doing a better job of originating loans with fewer defects,” according to a report provided by First American Financial Corp in a recent article appearing in National Mortgage News (Higher Spending on Compliance Results in Fewer Errors on Apps). The article stated that The First American Title Loan Application Defect Index decreased again in February after declining steadily…
HUD/FHA released the results of their Post-Endorsement Technical Reviews reflecting the status of these reviews as of March 1, 2016. A total of 6,148 PETRs were processed in the 4th Quarter of Fiscal Year 2015 (July 1, 2015, thru Sept. 30, 2015) with the following results: Conforming – 1,126 cases (or 18%) Deficient – 2,151 cases (or 35%)…
More good news on the housing front! Freddie Mac’s March 2016 Housing Outlook states that 2016 will be a banner year for housing. They forecast the best year in housing starts, home prices and home sales since 2006. Rock on housing… This prediction is based on continued low-interest rates, increasing job growth and a gradual increase in the housing supply.…
