Pressure has been building recently from lawmakers and housing advocates for HUD to trim its condominium rules and regulations in order to assist prospective borrowers in obtaining FHA financing on condominium units. Many feel that there is too much paperwork involved with the current process of obtaining FHA project approval and re-certification and that many of the rules are too…
It is nice, for a change, to get some good news about the housing and related markets. Here’s some. According to HUD Secretary, Julian Castro, the health of the FHA insurance fund has significantly improved over last year (FHA Fund). This is believed to partly be the result of the previous 50 basis point reduction in the annual mortgage insurance…
If your Firm is involved with the origination of FHA loans, it is essential that you are aware of the more significant policy changes. These changes became effective for transactions that obtained their FHA case number on & after September 14, 2015. Admittedly, lenders have been recently focused on implementing the new TRID rules & requirements and many mortgage lender…
A million homes here, a million homes there. Pretty soon, we’re talking about a whole lot of home sales. Where is the housing market headed? It seems that MBA and Fannie have a slight disagreement on the issue (Housing Market). Everyone is projecting a rise in interest rates. MBA forecast is for a rise as soon as December. Both Fannie…
Innovations via Technology – Making the Loan Origination Process More Effective & Efficient On October 19th, Fannie Mae announced a series of innovations that will collectively have a positive impact on the loan origination process. The ultimate objectives of these innovations are to provide more access to mortgage financing to prospective home buyers and to help simplify current loan processing…
Fannie Mae continues to make changes to their products, pricing and processes in attempts to help lenders provide financing to more home buyers and homeowners. They rolled out their 97% financing, eased some of their underwriting guidelines, modified reps and warrants and recently expanded their eligibility for high balance loans to better serve creditworthy borrowers in high cost areas. What…
