Great news for FHA lenders from Congress

June 29th, 2010

Written by Greg Frost Jr.

Categories: Economy, Events, Federal Housing Administration, FHA, Legislation, Mortgage Banker News, Mortgage News, Mortgage Programs, Mortgage rule changes, Mortgage rules, News

Federal Housing Administration (FHA) lenders will be exempted from new “risk retention” rules, which is great news for companies who issue loans insured by the government.

National Mortgage News reports that

[t]he legislation finalized by the conference committee late last week would require originators to retain at least 5% of the credit risk in loans they securitize unless the assets meet a “qualified mortgage” test. All loans backed by the FHA, the Department of Veterans Affairs or the Rural Housing Service will automatically meet that test.

This is a complex time to be in the FHA-backed mortgage business, but the opportunities are huge for those who are eager to learn to succeed as branch partners or loan officers.

Frost Mortgage has been a leader in FHA lending since 1991. If you’re looking to step up, take a look at our mortgage partner offering–we think you’ll find it’s the best in the business.

Please take a moment to learn more about how Frost Mortgage can help you. If you're looking for a mortgage, please visit our Find a Loan Officer page. And if you're looking for the best Branch Partner opportunity in the business, please visit our Branch Opportunities page. Thank you!

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This entry was posted on Tuesday, June 29th, 2010 at 9:12 am and is filed under Economy, Events, Federal Housing Administration, FHA, Legislation, Mortgage Banker News, Mortgage News, Mortgage Programs, Mortgage rule changes, Mortgage rules, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.