Archive for Appraisal News
NMLS And FHA Training Sessions
Loan Officers: Sorry about the late notice, but just a quick reminder about a couple of NMLS and FHA training sessions coming up this week and next:
Mortgage Origination Mastery – 20-hr NMLS Class
with Mortgage Expert Chip Cummings
Wed-Thu Sept. 8-9
10:00am Eastern (7:00am Pacific)
20-hr NMLS-approved training
CLICK HERE FOR DETAILS OR [...]
FHA Mortgage Insurance Premium Changes Made Official
Effective for FHA loans for which the case number is assigned on or after October 4, 2010, FHA will lower its upfront mortgage insurance premium (except for HECMs) simultaneously with an increase to the annual premium which is collected on a monthly basis. This policy change will decrease upfront premiums for purchase money and refinance [...]
Upcoming Free FHA Guideline Training Webinars
4 Free FHA guideline training webinars for loan officers, processors and underwriters – FHA/FAQs Hot Topics, FHA Refinance Guidelines, FHA Connection Training Part I, FHA Connection Training Part II.
FHA/FAQs Hot Topics
August 24, 2010 – Webinar: This FREE Webinar will provide clarification to current hot topics & frequently asked questions in today’s FHA lending environment. Ideal [...]
FHA Short Refinance Webinar
On August 12, 2010 from 4:00PM to 5:00PM EST, FHA will have a webinar to provide an overview of the recently issued mortgagee letter announcing FHA’s Short Refinance Option. After the overview, FHA staff will field questions from callers.
FHA Mortgagee Letter 2010-23 – FHA Refinance of Borrowers in Negative Equity Positions:
Starting September 7, 2010, FHA [...]
An FHA Disaster On The Way?
I just read a very troubling analysis of some potential problems with the FHA mortgage insurance program that I would like to draw your attention to. The blowback from these problems could lead to massive problems in the real estate markets, the failure of many more lenders (including some of the largest), and much more [...]
FHA Annual Mortgage Insurance Premium Increase Delayed
STATEMENT BY DEPUTY ASSISTANT SECRETARY VICKI BOTT
Tuesday, August 10, 2010
Last week, FHA Commissioner David H. Stevens announced plans for implementing FHA’s new mortgage insurance premium structure. As we work to publish a Mortgagee Letter, it is our intention to announce that based on industry feedback and our desire to have this change implemented successfully in [...]
FHA Mortgagee Review Board Cracks Down
This morning, FHA issued the news release below. FHA is very serious about improving the quality of the program. Keep in mind though that many of these “actions” were taken against lenders who had already gone out of business due to the economy. Therefore, they simply did not renew their FHA license.
Although getting rid of [...]
Free Webinar on FHA Refinance Guidelines
August 11, 2010 – Webinar: FHA Refinances.
This FREE Webinar will help you better understand the FHA Refinance general guidelines. Presenters will discuss Streamline Refinances, Cash-Out, & Rate & Term Refinances.
Basic calculations will be included in this training for anyone wanting to improve their knowledge of FHA refinances. An emphasis will be on the changes to [...]
FHA Commissioner’s Warning About Underwriting Standards
FHA Commissioner David Stevens issued a warning yesterday to FHA lenders about underwriting and quality control standards. Most of what he discusses are issues I’ve often highlighted on this website.
Here is the complete text of the statement. I have bolded some of the more interesting sections:
“After touring the country and talking to lenders over the [...]
HUD Seeks Public Comment On Proposed FHA Guidelines
HUD is seeking public comment on three proposals to help FHA control risk, and stem the losses from claims against the FHA mortgage insurance fund.
The first proposal is that FHA require a minimum credit score of 580 in order to eligible for maximum financing, and that no scores lower than 500 be accepted at all. [...]