Archive for the FHA Category

Mortgage Rate Update

Rhonda Porter on 11 20, 2009 | No Comments

Underwriting guidelines continue to get tougher.  This week FHA tightened her belts on streamline refinances and over the weekend of December 12, 2009,  Fannie Mae's DU 8.0 will be implemented.  

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FHA Suspends Taylor, Bean & Whitaker

Rhonda Porter on 08 4, 2009 | 77 Comments

I feel like I'm one of the few mortgage originators who have never worked with mortgage giant TBW...many mortgage brokers and lenders do.   FHA's Press release states: "TBW is the third larges

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FHA Condo Approval Process – MAJOR Guidline Changes

Jim Reppond on 06 27, 2009 | 14 Comments

FHA Condo Approval Process - MAJOR Guidline Changes

There are major changes on the way for developers of condo projects and existing condo owners who want to get approved for FHA financing. These changes are set to take place October 1st, 2009. But the

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The First Time Home Buyer Tax Credit Advance May NOT Be Used Towards the 3.5% Down Payment…UNLESS…

Rhonda Porter on 06 9, 2009 | 56 Comments

Update 6/10/2009 11:20 am:  Please read the comments 1-21 (especially Aubrey Cohen's comments).   Apparently according to a HUD representative, the tax credit can be used for down payment if it's r

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