Monthly Archives: October 2007

Co-broker an FHA loan, No Way Jose!

Posted on October 31, 2007 by FHALoans

THE SUBJECT MESSAGE IS APPLICABLE ON FORWARD MORTGAGES ONLY POLICY ALERT – RESPA/FHA EXISTING POLICY REGARDING NON FHAAPPROVED MORTGAGE BROKER FEES IN FHA MORTGAGE TRANSACTIONS The subject alert reconfirms existing FHA policy regarding the use of non FHA-approved mortgage brokers. … Continue reading →

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FHA Loans in Florida

Posted on October 25, 2007 by FHALoans

There are a number of mortgage loan programs that are available in Florida.  One of the most popular these days is the Florida FHA loan.  The advantages of an FHA loan in Florida are apparent. FHA provide a 3% down payment … Continue reading →

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Get an FHA Loan with IRS Tax Lien?

Posted on October 21, 2007 by FHALoans

Let’s take a look at what the 4155.1 states regarding delinquent federal debt and obtainig an FHA mortgage loan.  “If the borrower, as revealed by public records, credit information, or HUD’s Credit Alert Interactive Voice Response System (CAIVRS), is presently … Continue reading →

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FHASecure Q & A

Posted on October 16, 2007 by FHALoans

What is the expected impact of FHASecure? From 2007-2009, 2.3 million adjustable rate mortgages are expected to reset, nearly a quarter of which will be at risk of foreclosure. FHA believes that FHASecure will be able to assist approximately 80,000 … Continue reading →

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FHA Secure Meeting in Chicago

Posted on October 10, 2007 by FHALoans

Initiative meeting in Chicago: October 10-11, 2007 – Chicago, IL. Free FHASecure Initiative meeting. Metcalfe Federal Building, 77 W. Jackson Boulevard, Room #2205, Chicago, IL 60604. There will be two (2) sessions held each day, morning and afternoon.  9:00 AM … Continue reading →

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FHA Change in SSN Validation Process

Posted on October 10, 2007 by FHALoans

Effective October 15, 2007, borrower social security information will no longer be validated in real time when a new case number assignment is requested in FHA Connection (FHAC).  Edits in FHAC will continue to validate the prefix combination of the … Continue reading →

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Housing Counseling Grants

Posted on October 4, 2007 by FHALoans

BUSH ADMINISTRATION ANNOUNCES $44.1 MILLION IN HOUSING COUNSELING GRANTS TO NEARLY 400 NATIONAL, STATE AND LOCAL AGENCIES Approximately 700,000 families will have a greater opportunity to find housing or keep the homes they have because of more than $44 million … Continue reading →

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Seller Funded DPAs R Done

Posted on October 2, 2007 by FHALoans

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 24 CFR Part 203 [Docket No. FR-5087-F-02] RIN 2502-AI52 TITLE: Standards for Mortgagor’s Investment in Mortgaged Property AGENCY: Office of the Assistant Secretary for Housing–Federal Housing Commissioner, HUD. ACTION: Final rule. DATES: Effective Date: … Continue reading →

Posted in FHA Down Payment, FHA Gift, FHA Mortgage, FHA Nonprofits, FHA Rules, Mortgagee Letter | 1 Comment

Message From Nehemiah’s President

Posted on October 1, 2007 by FHALoans

According to Nehemiah’s webiste getdownpayment.com, Nehemiah Corporation of America is “a not-for-profit community development corporation specializing in homeownership, affordable housing and community development….The nation’s largest privately funded downpayment assistance program. Since 1997, we have assisted over 230,000 families working with … Continue reading →

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