Archive for January, 2010
(via HUD) New FHA Mortgagee Letter: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, D.C. 20410-8000 OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL HOUSING COMMISSIONER January 22, 2010 MORTGAGEE LETTER 2010-04 TO: ALL FHA-APPROVED MORTGAGEES ALL HUD-APPROVED HOUSING COUNSELING AGENCIES SUBJECT: Loss Mitigation for Imminent Default The Helping Families Save Their Home Act of 2009…Read the Rest of Article
Tags: fha mortgagee letter
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Long, but very helpful… Increases in FHA UFMIP, monthly MI factor, and reductions in seller paid closing costs I’m sure you’ve heard through the grapevine all the recent changes that are going to be implemented with FHA loans. Basically now, regardless of consumers’ credit score and down payment, people will start seeing an increase in…Read the Rest of Article
Tags: closing costs, fha loans, mortgage fees, mortgage loan
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(via MND) FHA to Raise FICO Requirements, Reduce Seller Concessions, Increase Premiums and Downpayment The Federal Housing Administration (FHA) is not, as some have claimed “the next subprime,” according to remarks prepared for presentation to congress this morning by Housing and Urban Development Secretary Shaun Donovan. Secretary Donovan told members of the House Committee on…Read the Rest of Article
Tags: fha, fha loan austin, fha loan dallas, fha loan houston, fha loan san antonio, fha loans
Posted in FHA Guidelines, FHA Mortgages | Comments Off
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Well, we had a nice run from Jan. 14-15, but rates are taking a break from getting better…at least for now. Mortgage bonds are currently down 16 bps, and mortgage rates should open a tad higher this morning. There are no economic reports for today, but tomorrow we got a hell of a lineup: Producer…Read the Rest of Article
Tags: Housing Starts, PPI, Producer Price Index
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(via dallasnews.com) Federal investigators probing two North Texas mortgage firms The inspector general of the U.S. Department of Housing and Urban Development announced today that it has subpoenaed records from 15 mortgage companies whose FHA-insured loans have “significant” failure rates. The group includes two companies based in North Texas: Alacrity Financial Services of Southlake and…Read the Rest of Article
Tags: default, fha, fraud
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The reports are in folks, and here’s what we got this morning: Empire State Manufacturing Survey – estimated to be 13 , actually 15.92 Consumer Price Index (CPI)- estimated to be 0.1% , actually 0.1% Industrial Production- estimated to be 0.6% , actually 0.6% Capacity Utilization – estimated to be 71.9% , actually 72% *Consumer…Read the Rest of Article
Tags: consumer sentiment, gfe, respa
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Well after a pretty rough day for mortgage bonds yesterday, we are seeing a little rebound after this morning Jobless Claims. The figure came in higher than expected at 444k. Also had the Retail Sales report this morning, and while it was expected to come in at 0.4%, it actually came in alot below that…Read the Rest of Article
Tags: mortgage bonds, respa, tax credit
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Good day in terms of rates. We’re currently up 50 bps and are rebounding quite nicely. I read an 87 page report earlier today that rate hikes are most likely going to happen in June, so be on the lookout! The International Trade Report came in at $-36.4b, a little higher than its estimate. Currently,…Read the Rest of Article
Tags: economic reports, Mortgage Rates
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Well, when you have 85k jobs lost in December and the unemployment rate is at 10%, the New Year doesn’t particularly look that promising to you if you’re getting fitted for that cap and gown in May. While many are saying that the economy is “switching gears”, a 10% unemployment rate isn’t really indicative of…Read the Rest of Article
Tags: employment, employment situation, texas mortgage
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AUSTIN – Texas weather can change quickly, especially in the winter. A fast-moving cold front can cause temperatures to drop below freezing within hours. Outdoor pipes, pipes in unheated areas, and pipes that run along uninsulated exterior walls can burst if the water in them freezes and expands. This can shatter pipe seals or the…Read the Rest of Article
Tags: home protection texas, houston cold weather
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Hope everyone had a great New Year celebration! For Texas lenders such as myself, it is definitely going to be a challenging year with all these rules and regulations that have come out and others that are still in the works. Mortgage bonds are up 41 bps this morning and are kicking some serious butt!…Read the Rest of Article
Tags: 2010, mortgage bonds, new year
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