FHA Loan Advice

Mortgage and Lending - FHA Loan Advice
As someone who almost always specialized in government backed mortgage programs as both a real estate agent and as a loan officer, I've always felt a huge contradiction between that and my libertarian political views. Although I've used those government programs to put many people into homes, I'v...
3 Free FHA guideline training webinars for loan officers, processors and underwriters are coming up soon –  FHA Refinance Guidelines, FHA Connection Training Part I, FHA Connection Training Part II. Get More Information Here.
The FHA Streamline Refinance program has helped many borrowers lower their interest rates and housing payments. FHA has long held the view that decreasing a borrower’s monthly payment should be a good thing and very easy to accomplish as long as the borrower has been making their payments on time...
Update 8/5: TBW Shuts Down 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 Mo...
Just a few thoughts on the current uproar about the HVCC. I'm amazed as I watch all this fighting about the HVCC and the havoc it has caused. First, I think bureaucratic solutions always cause more trouble than they ever prevent. How does putting another middleman in the process do anything other...
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...
As a loan officer, I first began using seller paid down payment assistance programs with my customers almost as soon as the program was available in my area. I remember very clearly the feeling I had at the time that the programs could not last long before HUD put a stop to them. I told every cus...
Every single day I receive numerous emails and phone calls from loan originators and potential borrowers asking whether FHA guidelines have changed and asking me why a particular loan scenario can no longer be approved as an FHA loan. Consumers, in particular often get confused when I explain tha...
Just a quick heads up about a change to the guidelines for the FHA 95% loan to value cash out refinance program effective for all case numbers issued after January 1, 2009. This change does not apply to the standard 85% loan to value program. The guidelines already included additional requirement...
This blog is normally focused primarily on providing information for originators of FHA loans, but this post should prove useful to both loan originators/processors and consumers. With mortgage interest rates plummeting to record levels, and home sales plummeting as well, many people have a renew...

Carl Pruitt

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