Archive for January, 2010

FHA Guidelines Tightened

FHA today announced some rather major guideline changes which will tighten up the availability of FHA loans. Your view regarding these changes is likely to be guided by your vantage point in the process. Members of the general public who are not in the market for a home or a mortgage refinance will most likely […]

HUD Inspector General Probes Mortgage Companies With Significant Claim Rates

WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Inspector General Kenneth M. Donohue and Federal Housing Administration (FHA) Commissioner David H. Stevens announced today an initiative focusing on mortgage companies with significant claim rates against the Federal Housing Administration mortgage insurance program. HUD Office of Inspector General (OIG) subpoenas were served to the […]

WHAT SHOULD I DO WITH MY HOME IF I FILE FOR DIVORCE IN 2010?

By Henry Gornbein We have been going through some of the worst economic times since The Great Depression.  Numerous articles and newscasts have stated either that the housing market has bottomed out, or is still going down.  In Michigan, we have the most depressed housing market in the United States.  Other states, including Florida, California, […]

FHA 1% Origination Fee Cap Removed

As part of our government’s continuing crusade to over regulate and over complicate the mortgage process for consumers and mortgage industry professionals alike so that they can continue to blame mortgage brokers for the current crisis instead of government, the new RESPA guidelines took effect on January 1, 2010. More on this later. One requirement […]