Now Required
Mortgage Compliance

Pre-Closing Reviews Now Required On FHA loans

Are You Prepared? Several months ago, HUD/FHA released a draft copy of its “Origination through Post-Closing Endorsement” Handbook (4000.1) on its website.  Most noteworthy is the fact that the policy & procedural changes that are being implemented by HUD/FHA via this Handbook are scheduled to be effective as of June 15, 2015 – which is now less than 3 months…

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Time is Running Out
Mortgage Compliance

Federal Gov’t: Can we please have more time!

Well, it is finally April and thoughts of many Americans are to seek an extension from the Federal Government regarding the filing of their Tax Returns.  However, the topic of this Blog Post is not income taxes but two widely discussed mortgage industry initiatives that have effective dates looming and extensions being sought by many entities. In Mike Vitali’s, B-Logics’…

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HUD Update
Mortgage Compliance

Times – They are a Changin…..

As I have mentioned in previous Blog Posts, several months ago, HUD/FHA released a draft copy of its “Origination through Post-Closing Endorsement” Handbook (4000.1) on its website. Most noteworthy is the fact that the policy & procedural changes that are being implemented by HUD/FHA via this Handbook are scheduled to be effective as of June 15, 2015 – which is…

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Automation
Mortgage Compliance

Automation of the Appraisal Review Process

HUD/FHA has just announced (refer to Mortgagee Letter (ML) 2015-08) that it will be implementing its long-awaited Electronic Appraisal Delivery (EAD) process effective for all FHA case numbers assigned on or after June 27, 2016. This ML states that the EAD portal will be a web-based platform through which lenders and their third-party service providers will be able to electronically…

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The Game has Changed
Uncategorized

Additional Tech Advances for the USDA

Does your Firm originate USDA loans?  If so, you should be aware of the recent enhancement in the past three months in which the USDA’s Lender Loan Closing system was modified to permit the electronic issuance of Loan Note Guarantees. Now, there’s an even larger technological enhancement. Beginning on March 28, 2015, the USDA’s Government Underwriting System (GUS) will be…

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HUDCLIPS Housing Handbook 4000.1
Mortgage Compliance

New FHA Updates and Handbook Additions

Several months ago HUD/FHA released a draft copy of its “Origination through Post-Closing Endorsement” Handbook (4000.1) on its website.  Most noteworthy is the fact that the policy & procedural changes that are being implemented by HUD/FHA via this Handbook are scheduled to be effective as of June 15, 2015 – which is now less than 3 months away. Also, on…

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