

1,028,447
You should be posting this to your blog, because the information itself is important enough that it should stand on its own.
One of my BFFs is a national FHA VA lender, and although I did not know this, it does not surprise me because the borrowers are vetted very carefully before pre-approval.
In 10 years working with them, I don't recall a single deal we've ever closed go into default.
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Khash Saghafi NMLS
Cleveland, OH
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Michael Jacobs
Pasadena, CA
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J.R. Schloemer, CRS
Louisville, KY
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Ron and Alexandra Seigel
Carpinteria, CA
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Debe Maxwell, CRS
Charlotte, NC
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Lyn Sims
Schaumburg, IL
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Nina Hollander, Broker
Charlotte, NC
1,711,751
There is also a period where so many consistent payments have to be made to have the full insurance in place.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Ron and Alexandra Seigel
Carpinteria, CA
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Debe Maxwell, CRS
Charlotte, NC
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Carol Williams
Wenatchee, WA
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Lyn Sims
Schaumburg, IL
5,092,942
Now I get FHA delays! You should totally post this to your blog - this is information that would help agents understand the process as well.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
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J.R. Schloemer, CRS
Louisville, KY
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Ron and Alexandra Seigel
Carpinteria, CA
2,218,570
I did not know Khash, this topic will be great for a blog.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
715,269
Really? Wow...
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Nina Hollander, Broker
Charlotte, NC
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
5,772,193
Khashm
I was not aware of this. A
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Nina Hollander, Broker
Charlotte, NC
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
890,443
I had no idea of the specifics, but it makes sense for a lende to be extra cautious. It is also a protection for the borrowers, in a way, to keep them from getting into a situation that would be detrimental to them down the road.
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Nina Hollander, Broker
Charlotte, NC
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
3,415,096
This would make a great blog. Many buyers and also buyer agents do not know this. I have worked the mortgage side of things too which makes it easier to understand the whats and whys some days.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Debe Maxwell, CRS
Charlotte, NC
2,108,712
I did NOT know that. Great blog topic, Khash.
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Nina Hollander, Broker
Charlotte, NC
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
5,096,318
Some people are lucky that their closing in only delayed as opposed to being rejected. Not everyone should qualify for a loan. Some companies take risks only to face the consequences!
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Carol Williams
Wenatchee, WA
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Kathleen Daniels, Prob...
San Jose, CA
5,050,960
Hi Khash... I had no idea. Wow! So important to know.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
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J.R. Schloemer, CRS
Louisville, KY
259,317
Was not aware, thanks for sharing!
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Tony and Suzanne Marri...
Scottsdale, AZ
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Nina Hollander, Broker
Charlotte, NC
841,995
I didn't know that. Very interesting & a valuable accountability factor.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
6,257,963
I wish the feds would get out of the lending business.
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Bob Crane
Stevens Point, WI
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
5,582,796
wow.... that delinquency is not in the control of the lender....why are they penalized? alot of situations happen within 2 years....
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Nina Hollander, Broker
Charlotte, NC
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
3,303,953
I know there are guidelines and lenders are measured on defaults ... and that is not just with FHA, I understand it.
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Nina Hollander, Broker
Charlotte, NC
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
3,071,489
Lesley Wilson-VanGoethem nailed this one!
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
1,828,585
Yes & what to do about it? You can only check so much & abuse the underwriters.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
687,221
I have heard this, Khash Saghafi . The lender needs to make sure the buyer is qualified.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
412,986
Great information to have for reference.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
4,433,977
I had no idea.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
4,800,082
I had no clue.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
544,014
Did not know that. I would like to see the source document.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
4,773,935
I wish we knew how many.
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Khash Saghafi NMLS
Cleveland, OH
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Michael Jacobs
Pasadena, CA
270,883
I take it this is a current law and not something that was in effect before the last Great Recession!!?
Thanks Khash
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Khash Saghafi NMLS
Cleveland, OH
148,276
Did not know about this. Interesting. Thanks for sharing this info.
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Khash Saghafi NMLS
Cleveland, OH
714,838
I enjoyed reading this and the comments by other Active Rain members.
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Khash Saghafi NMLS
Cleveland, OH
4,805,824
Wow, I need tro let my lender know that , thanks
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Khash Saghafi NMLS
Cleveland, OH
5,812,581
4,319,119
Khash Saghafi - frankly, I did not know this.
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Khash Saghafi NMLS
Cleveland, OH
1,494,919
3,986,184
Well if that is strue most of the bnaks should have clsoed years ago!
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Khash Saghafi NMLS
Cleveland, OH
747,764
No I wasn't aware of this. Is it really true? I'm sure that extenuating circumstances would protect the lender.
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Khash Saghafi NMLS
Cleveland, OH
2,666,879
7,669,039
Thanks for sharing this perspective.
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Khash Saghafi NMLS
Cleveland, OH
921,404
If you do blog about this make certain to also explain the conditions that would compel the 'bank' to buy-back the mortgage from FHA. That is the real issue.
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Khash Saghafi NMLS
Cleveland, OH
2,132,217
1,230,709
Smaller banks are loser on loan requirements....
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Khash Saghafi NMLS
Cleveland, OH
1,488,012
Was not aware of that. We don't get many FHA or VA loans out here.
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Khash Saghafi NMLS
Cleveland, OH
4,983,783
I was not aware. As others said, this is important information and deserves additional explanation and exposure.
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Khash Saghafi NMLS
Cleveland, OH
809,258
4,504,204
Is this an example of unintended consequences?
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Khash Saghafi NMLS
Cleveland, OH