|
||||||
|
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! Here are the [...] 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 more [...] (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 Financial Services that [...] (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 Americare Investment [...] 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 a [...] 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, and b) appraiser [...] 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 Housing of Administration [...] I hate to tell everyone I told them so, but I posted a blog similar to this GREAT article a while back. I cannot stress to you enough how important it is to work with an FHA Lender in Texas that UNDERSTANDS and foresees these types of things! Read on. Addressing Continued Concerns About the FHA by [...] 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 a purchase [...] Reposted by the best Houston Mortgage Lender — By Tracey C. Velt • Bankrate.com Foreclosure. It seems half the country is in it and the other half is trying to make a killing on it. The number of foreclosed homes staggers the imagination and with more adjustable-rate loans about to reset, the end is nowhere in sight. The [...] |
||||||
|
Copyright © 2010 Texas Mortgage Corner - All Rights Reserved |
||||||
