It’s official…FHA is adopting the same basic premise as the HVCC ruling on Conventional Mortgages.
We posted on May 1, 2009 about HVCC on Conventional loans which stated:
Up until now the loan officer had the control to select an appraiser they felt had the best ability to appraise the house that would be used for the [...]
Posts Tagged ‘FHA’
February 12, 2010
0
HVCC on FHA Loans
By Scott in Big Changes
February 5, 2010
0
Why Buy Now?
By Marla in Assistance, Big Changes, FHA, Special Programs, TaxesWe generally write about specific programs, changes and situations, but I want to recap some of the thingsI feel are important to consider in today’s market. Let’s look at the reasons to buy now.
Long term mortgage rates are at 20-30 year lows
According to Freddie Mac, in a press release yesterday, the average rate on a 30-year fixed mortgage was [...]
Tags: Assistance, Fannie Mae, FHA, HomePath
January 26, 2010
1
FHA Changes 2010
By Scott in Big Changes, FHA, Mortgage InsuranceLots of changes coming down from the Department of Housing and Urban Development (HUD) on FHA Mortgage Loans. Here is a quick snapshot of what is changing in 2010:
90 Day Flipping Rule Waiver (Feb 1)
Up-front Mortgage Insurance Premium Increase from 1.75% to 2.25% (Apr 5)
10% Down Payment Required for Credit Scores < 580 (Summer)
Max Seller [...]
Tags: Closing Costs, FHA, Mortgage Insurance
