Posts Tagged ‘fha’
Planning to use an FHA-backed mortgage for your next home loan? You might want to get your application in gear today.
Tags: fha, MIP, UFMIP
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Beginning mid-June 2012, certain current, FHA-backed homeowners will be able to refinance their existing FHA mortgage into a new one, without having to pay the government-backed group’s new, costly mortgage insurance premium schedule.
Tags: fha, MIP, UFMIP
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Beginning April 1, 2012, the FHA is once again raising its mortgage insurance premiums.
Tags: fha, MIP, UFMIP
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The FHA is insuring a greater percentage of loans than during any time in recent history. In 2006, it insured roughly 5 percent of the purchase mortgage market. Today, it insures one-quarter. “Going FHA” is more common than ever before — but is it better?
Tags: Conforming, fha, Mortgage Insurance
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Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.
Tags: fha, MIP, Mortgage Insurance
Posted in FHA Mortgages | Comments Off
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Beginning with FHA case numbers issued on or after October 4, 2010, the FHA is changing its upfront and annual mortgage insurance premium structures.
Tags: fha, MIP
Posted in FHA Mortgages | Comments Off
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Starting Monday, April 5, 2010, getting an FHA mortgage will be more expensive. That means you’ll want to give a full mortgage application before the weekend so your lender can register your loan in time for the deadline.
Tags: fha, UFMIP
Posted in FHA Guidelines, FHA Mortgages | Comments Off
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A quick word to the wise, and home buyers. We all know the tax credit is ending soon, and the “target date” for the majority of folks is April 30th. Well, set those clocks back because if you are thinking of going to go with an FHA loan, mark April 5th down and circle it!…Read the Rest of Article
Tags: fha, FHA changes, fha loan, home buyer tax credit, home buyers, texas fha loans
Posted in FHA Guidelines, FHA Mortgages | Comments Off
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The Fed Purchase Program is ending in March and the MBS (mortgage backed securities) market will be an open canvas to new investors. At the moment, the Fed is 92% complete with their program, and when they back out of it, this is going to attract investors that are going to require more yield. Well…Read the Rest of Article
Tags: austin, dallas, el paso, fha, fha rates texas, refinance, refinance rates texas, san antonio, va, va rates texas
Posted in Mortgage Insights | Comments Off
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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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(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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Currently down 34 bps for the morning, rates may start .125% higher this morning. We’re teetering right under the 200 DMA and in volatile territory, so hopefully you’ve taken advantage of our FREE advice of locking in your loan programs a while ago. Right now is not a time to be risking your rate, and…Read the Rest of Article
Tags: fha, fha mortgage, free mortgage advice, mortgage
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Source: HUD Important FHA notice for all mortgagees: Delayed Implementation Date for New Requirements in ML 2009-28 Enactment of ML 2009-28, Appraiser Independence, will be delayed until February 15, 2010. ML09-28 (originally planned for a January 1, 2010 implementation) has two parts: a) prohibition of mortgage brokers and commission-based lender staff from the appraisal process,…Read the Rest of Article
Tags: appraiser, fha, HUD
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On a recent FHA post that I had, I wrote about how FHA is, bluntly speaking, up shi*s creek. Well, earlier this morning I received an update stating that HUD asked Congress to raise FHA requirements up to 5%. Enter FHA Taxpayer Protection Act of 2009… Basically because of all the financial issues the Federal…Read the Rest of Article
Tags: fha, FHA changes, FHA Guidelines, fha loan
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A quick Friday fact from your Texas FHA Refinance Lender DID YOU KNOW? If a borrower will use the loan to complete payment on a land contract, contract for deed, or other similar type financing arrangement in which the borrower does not have title to the property, the new mortgage may be processed as either…Read the Rest of Article
Tags: fha, fha refinance, guidelines, land contract
Posted in Texas Mortgage News | Comments Off
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October 9, 2009 Mortgagee Letter 2009-39 TO: ALL APPROVED MORTGAGEES ATTENTION: Single Family Servicing Managers SUBJECT: Updated Claim Filing and Delinquency/Default Reporting Requirements For FHA’s Making Home Affordable Modification Program (FHA-HAMP) The purpose of this Mortgagee Letter is to provide updated claim filing and delinquency/default reporting requirements for the FHA Home Affordable…Read the Rest of Article
Tags: ausitn, dallas, fha, Houston, making home affordable, obama, san antonio, texas
Posted in Texas Mortgage Info | Comments Off
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When will YOUR housing market recover? By Marcie Geffner Pundits love to make predictions as to when home prices will stabilize in U.S. housing markets. But even well-respected forecasters and analysts may disagree, and even if a forecast proves true nationally, your local market may behave in a wildly different way. This disconnect between broad-stroke…Read the Rest of Article
Tags: fha, fha loan, FHAloanhouston, home sales texas, home values texas, Housing Market, Houston, san antonio, texas
Posted in Texas Mortgage Info | Comments Off
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In a previous post of mine, I outlined a problem that FHA has been currently dealing with, and today, on the front page of Yahoo, I found an article from the New York Times that gives a nice little update. I wanted to repost it so please take a moment to read this, as its…Read the Rest of Article
Tags: austin, fha, fha mortgage houston, fha trouble, Houston, mortgage rates houston, san antonio, texas
Posted in Texas Mortgage Info | Comments Off
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If you are vacating a residence that will remain occupied by the co-borrower, he/she is required to obtain a NEW FHA mortgage loan. Acceptable situations are: 1.) Instances of divorce, after which the vacating spouse will buy a new home, or 2.) One of the co-borrowers will vacate the existing property -
Tags: fha, FHA Guidelines, fha loan, FHAloanhouston, Houston, mortgage rates houston, refinance, san antonio, texas
Posted in Texas Mortgage Info | Comments Off
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Just this morning, I was reading an article that I came across regarding a couple things that are going on with the Federal Housing Administration (FHA)….and it wasn’t pretty. Basically what’s going on right now is that there are justifiable rumors that the FHA’s reserves (capital) are hovering around dangerous levels. Congress requires that the…Read the Rest of Article
Tags: 203(b), fha, fha guideline changes, FHA Guidelines, fha houston, fha loan, fha mortgage, fha mortgage houston, FHAloanhouston, Houston, san antonio
Posted in Texas Mortgage Info | Comments Off
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Here’s an excerpt from one of my favorite movies, A Bronx Tale. Please follow closely: Sonny: Get this over with, Mush. Mush: Come on, dice. Baby needs a new pair of shoes. Come on, seven! Mush: Come on! Come on, dice! Sonny: I don’t even have to look. (Spectator) And seven! Mush: Craps! I’m out!…Read the Rest of Article
Tags: austin, fha, fha loan, FHAloanhouston, Houston, obama, san antonio
Posted in Texas Mortgage Info | Comments Off
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So there has been a lot of rumors regarding the $8000 first time home buyer tax credit and that it can be used as a down payment for a new home with an FHA loan. At first, I thought it was just another “mortgage scam”. Trust you me, the real mortgage industry always leaves room…Read the Rest of Article
Tags: 203(b), 97% financing, austin, fha, fha guideline changes, fha loan, FHAloanhouston, Houston, san antonio, texas
Posted in Texas Mortgage Info | Comments Off
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An Identity-of-Interest transaction is where a sales transaction is made between parties with family/business relationships. To break it down very simply, and this is USUALLY always the case, when a family member sells to ANOTHER family member, FHA looks at that as an Identity-of-Interest Transaction. I get at least 1-2 calls per month with this…Read the Rest of Article
Tags: fha, fha loan, fha mortgage, fha mortgage houston, FHAloanhouston, Houston, refinance, san antonio, texas
Posted in Texas Mortgage Info | Comments Off
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Call Us NOW to get a LOWER RATE. By Amy Hoak, MarketWatch CHICAGO (MarketWatch) — Lured by low mortgage rates, many homeowners have been rushing to refinance. Interest is gaining for good reason: Eligible borrowers can lock in rates that haven’t been this attractive in decades. “With interest rates hovering around 5% for conforming loan…Read the Rest of Article
Tags: fha, Houston, refinance
Posted in Texas Mortgage News | Comments Off
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Ok, so we have, including today, 3 days left until 2009. Forget the streamers, the FREE champagne, and the next day hangovers, its time to take advantage of what we have left in 2008. I checked rates today and we are up about 32 bp (basis points) and are still hovering around the 4.75% mark…Read the Rest of Article
Tags: Consumer Confidence, fha, houston rates, jobless claims, low rates, rate lock
Posted in Texas Mortgage Info | Comments Off
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Here are some FHA guidelines in regards to calculating income. Its CRUCIAL to be able to calculate income correctly and UP FRONT at the time of application because this can save everyone a lot of money and headaches when done correctly. Individual Tax Returns (IRS Form 1040). The amount shown on the IRS Form 1040…Read the Rest of Article
Tags: 1040s, fha, tax returns
Posted in Texas Mortgage Info | Comments Off
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In the current credit squeeze, if you have less than a 20 percent down payment, there’s pretty much only one major source of mortgage financing available: the Federal Housing Administration, the Depression-era home loan insurance agency that still offers 3 percent down, 30-year, fixed-rate mortgages with consumer-friendly credit standards, even on jumbo loans in high-cost…Read the Rest of Article
Tags: congress, credit squeeze, fha, fha loan, Housing Market, HUD, new legislation
Posted in Texas Mortgage News | Comments Off
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WASHINGTON — The Department of Housing and Urban Development launched a program Wednesday to help underwater borrowers refinance their mortgages, but its details appeared to pose fresh challenges for servicers and lenders. The agency said borrowers with payment- and debt-to-income ratios over a certain threshold must complete a three-month trial period in a new loan…Read the Rest of Article
Tags: fha, FHA Guidelines, fha loan, fha refinance
Posted in Texas Mortgage News | Comments Off
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Power and gas retailers *Reliant Energy is waiving late fees indefinitely and will be working with its customers on flexible payment terms and extensions to meet their needs, said communications director Pat Hammond. Reliant, which has about 1.8 million customers in Texas, also has suspended its credit and collection activity and has stopped disconnecting customers…Read the Rest of Article
Tags: fha, Houston, Hurricane Ike
Posted in Texas Mortgage News | Comments Off
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The FHA is now taking steps to respond to “unhealthy” practices regarding the housing market, especially with FHA and FHA Approved Lenders. We have seen first-hand, and taken hundreds of applications on, homeowners that are vacating their current residences to purchase another property. Due to rising fuel costs, most people have been relocating to be…Read the Rest of Article
Tags: fha, FHA Guidelines, fha loan, fha new rules, fha rental income
Posted in Texas Mortgage News | Comments Off
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With mortgage rates taking a tumble over the last few days, loan officers with customers who have an FHA insured mortgage have been calling frantically to get them locked in at a lower rate. What is an FHA streamline? FHA Streamline refinance is a program designed to give borrowers who already have an FHA insured…Read the Rest of Article
Tags: fha, fha refinance austin, fha refinance dallas, fha refinance el paso, fha refinance houston, fha refinance san antonio, fha refinance texas, fha streamline refinance, fha streamline texas, refinance, streamline
Posted in FHA Guidelines, FHA Mortgages, Texas Mortgage Info | Comments Off
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Here is the resolution that just passed the House Financial Services Committee and is next up for a vote on the house floor. This could bring back down payment assistance programs. Here is what the resolution proposes): H.R. 6694 will reinstate FHA seller down payment assistance for persons with certain credit scores by establishing three…Read the Rest of Article
Tags: down payment assistance, DPA, fha, Nehemiah
Posted in Texas Mortgage News | Comments Off
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HUD has posted changes to the required down payment structure. These changes are effective for case numbers assigned on or after January 1, 2009. HIGHLIGHTS: Effective Date Case # assignments on or after January 1, 2009 Down payment 3.5% and can no longer consist of Borrower paid closing costs.. i.e. the entire investment is via…Read the Rest of Article
Tags: fha, fha down payment, HUD
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