Any borrower who is FHA insured can obtain FHA streamline mortgage refinance loan. These kinds of loans provide lower rate of interest, and the tenure can be fixed according to the borrower’s requirement. Borrower can also avail the opportunity of … Continue reading
Posted in FHA, Mortgage Guidelines, Mortgage News, Refinance | 1 Comment
It’s a busy week in the news for potential homebuyers. First, both 15-year and 30-year loans hit record lows for the second week in a row. Second, as Reuters reports, the tax credit extension has passed a key hurdle: The … Continue reading
Posted in Economy, First-Time Homebuyer, Home Buying, Home loans, Home prices, Home sales, Homebuying, Mortgage / Credit, Mortgage Approval Process, Mortgage Guidelines, Mortgage Rates, Tax Credits | Leave a comment
The Federal Housing Administration (FHA) helps prospective borrowers in a wide range of ways. Frost Mortgage is a huge fan of the FHA program; in 2009, for instance, we were named No. 2 in America for FHA fundings by Mortgage … Continue reading
Posted in Economy, Federal Housing Administration, FHA, First-Time Homebuyer, Home loans, Home sales, Homebuying, Housing, Mortgage Guidelines, Mortgage News, News | Leave a comment
The writing is on the wall for funds for homebuyers from sellers that can pay for some services and taxes in the transaction. As the Washington Post explains, Say you’re buying a $200,000 house. If you are using FHA [Federal Housing Administration] … Continue reading
Posted in Federal Housing Administration, FHA, Home sales, Homebuying, Mortgage / Credit, Mortgage Approval Process, Mortgage Banker News, Mortgage Guidelines, Mortgage Innovation, Mortgage News, Mortgage Programs, Mortgage rule changes, Mortgage rules, News | Leave a comment
The recent “Wall Street Reform” bill required that 5 percent of a mortgage be retained as a buffer against risk. Fortunately, as National Mortgage Newsreports, a measure passed in May amended that requirement to exempt “qualified mortgages” (subscription required)–those that are generally … Continue reading
Posted in Branch Partner Opportunities, Federal Housing Administration, FHA, Home sales, Homebuying, Mortgage / Credit, Mortgage Banker News, Mortgage Guidelines, Mortgage Insurance, Mortgage News, Mortgage rule changes, Mortgage rules, Net Branch Opportunities, News, Real Estate News | 1 Comment
Fannie Mae has begun mandating that appraisals be delivered by lenders electronically, according to National Mortgage News. Lenders will have several options for providing the information according to MISMO standards (“the leading technology standards development body for the residential and commercial real estate finance industries, … Continue reading
Posted in Appraisals, Branch Partner Opportunities, Ginnie Mae, Loan Officer News, Loan Officer Opportunities, Loan Officers, Mortgage / Credit, Mortgage Banker News, Mortgage Guidelines, Mortgage News, Mortgage rule changes, Mortgage rules, Net Branch Opportunities | Leave a comment
A new letter from the U.S. Department of Housing and Urban Development (HUD) outlines plans to raise minimum net worth requirements for prospective FHA mortgagees (MortgageDaily.com; subscription required). The minimum net worth requirement had been $250,000 since 1993. Within the … Continue reading
Posted in Branch Partner Opportunities, Federal Housing Administration, FHA, Housing and Urban Development, HUD, Mortgage Banker News, Mortgage Guidelines, Mortgage News, Mortgage rule changes, Mortgage rules, News | Leave a comment
Private mortgage insurers are coming back to the market, the Los Angeles Times reports, even as the Federal Housing Administration (FHA) is pulling back. Private insurers had almost completely left the sector. Last year, the Times reported, the FHA insured roughly 30 percent … Continue reading
Posted in Branch Partner Opportunities, Federal Housing Administration, FHA, Mortgage Banker News, Mortgage Guidelines, Mortgage Insurance, Mortgage News, Mortgage Programs, Mortgage rule changes, Net Branch Opportunities, News, Real Estate News | Leave a comment
The Department of Housing and Urban development is reminding the mortgage industry that, starting today (April 5, 2010), an upfront mortgage insurance premium of 2.25 percent will be collected “for purchase money and refinance transactions, including FHA-to-FHA credit qualifying and non-credit … Continue reading
Posted in Mortgage / Credit, Mortgage Approval Process, Mortgage Banker News, Mortgage Guidelines, Mortgage News, Mortgage Programs, Real Estate News | Leave a comment
The Real Estate Settlement Procedures Act (RESPA) that took effect earlier this year has attracted a lot of attention both from the industry and from borrowers. The act requires that “loan originators provide borrowers with a standard Good Faith Estimate that … Continue reading
Posted in Economy, First-Time Homebuyer, Mortgage Approval Process, Mortgage Guidelines, Real Estate News | Leave a comment ← Older posts