Archive for General

TBW, 3rd Largest Direct Endorsment Lender, Shuts Down

As most people are aware by now Taylor Bean and Whitaker, the third largest FHA Direct Endorsement lender in the country and the 12th largest lender in the country has ceased operations. There will be ripple effects from this throughout the mortgage lending industry. Many hundreds of small mortgage brokers and community banks depended on […]

Taylor, Bean and Whitaker (TBW) Suspended From FHA Lending

The third largest FHA lender in the country Taylor, Bean and Whitaker Mortgage has been suspended from FHA lending effective immediately. In addition, the Government National Mortgage Association (Ginnie Mae) is also defaulting and terminating TBW as an issuer in its Mortgage-Backed Securities (MBS) program and is ending TBW’s ability to continue to service Ginnie […]

HUD Still Does NOT Allow $8000 Tax Credit For Minimum Investment

At least they don’t do so in any way which stands much chance of meaningful success in the the real world. Here is the direct quote from HUD Secretary Sean Donovan’s May 29, 2009 press release: “Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent […]

HUD Conference Call To Discuss Tax Credit And Manufactured Home Guidelines

Everyone is full of questions about the recent HUD Mortgagee Letters on the monetization of the first time homebuyer tax credit and the new manufactured home guidelines. Here is your chance to get the information straight from the horse’s mouth. On Thursday June 4, 2009 at 3PM Eastern time HUD is having a conference call […]

2nd Update: HUD’s Monetization Of The $8000 First Time Homebuyer Tax Credit

Just a short update to make sure the latest information is available on the site – even though what I’m about to tell you isn’t really “information” yet in my view! According to a report in Realtor Magazine, HUD spokesman Lemar Wooley has stated that the proposal is still on track. As I suspected from […]

Massive HUD Crackdown Kills Off 102 FHA Lenders

I was fairly excited to see HUD’s press release on Thursday that they had taken action against more than 120 lenders who had violated HUD guidelines. 102 FHA approved lenders were cut off from participation in the FHA program for various reasons. This excitement was only slightly tempered by my knowledge that some of the […]

Qualified Appraisers are Necessary for the Accurate Restructuring of Loans

Several of the nation’s real estate appraiser organizations are asking the Administration to require that residential market values be determined by qualified appraisers. It is necessary to use licensed and certified appraisers in order to protect homeowners under the Homeowners Stability Program. In order to restructure loans, banks require homeowners to have their home appraised […]

FHA Backed Refinances Increase Expected Thanks To New Bill

We put our national network of FHA Approved Appraisers on stand by since Congress is expected to pass legislation in the coming days that could help hundreds of thousands of homeowners refinance into mortgages backed by FHA. Of course there is a catch…the lenders must be willing to forgive a portion of the principle balance.  […]

FHA Expanding Programs But Tightening Guidlines. Applications Increase In Temecula & Southern California

Based on tight credit conditions, the Federal Housing Administration has been expanding its programs but tightening its guidelines. Traditional FHA Loan Applications continue to flood in before guidelines tighten further. We have seen a noticable increase in lender requested FHA Appraisals here in Temecula, Riverside County and we have heard the same from our affiliates […]

Riverside County & Temecula Valley Seeing Increase In FHA Home Loan Requests

Valu-Rite Appraisers has recently extended it’s coverage to include all 50 states and 1288 counties. We have seen an increase in FHA appraisal requests lately and expect to see more and more activity. We have FHA approved appraisers nationally and new appraisers join our team daily in new geographic locations. You may ask, why the […]