FHA Loan Advice

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Mortgage and Lending - FHA Loan Advice
RECENT BLOG POSTS
One of the most exciting opportunities today for loan officers and real estate agents alike is the opportunity to sell off the glut of foreclosed homes on the market. A big problem with these potential deals is that most people who are losing their home because they can't make the payments usuall...
09/26/2008
As most people who have read this blog for long know, I am a huge fan of the training materials on FHA produced by Chip Cummings. Chip just returned home from the Atlanta HUD Home Ownership Center where he was actually training FHA on how to do FHA! I use the "ABCs of FHA Lending" manual every da...
09/22/2008
H. R. 6694 was passed out of the Financial Services Committee yesterday with strong support from both parties. The bill will probably be voted on by the entire House of Representatives soon. However, this is just the very first step in a long journey before the Bill is finally passed and there is...
09/17/2008
On Sept. 16, 2008 HR 6694 is being considered by the House Financial Services Committee. The Committee should be encouraged to pass the bill out of committee to be voted on by the entire House of Representatives.Today, several lobbying groups representing rental property owners have issued declar...
09/16/2008
Most people in the mortgage business run around talking about "Fed rate cuts" and Federal Reserve Meetings and what the Fed is going to do about interest rates. Yet most people don't have a clue how the Federal Reserve works behind the scenes, or what its true goals are. Here is a link to an hour...
09/01/2008
The Housing and Economic Recovery Act of 2008 goes into effect on October 1, 2008. As part of this Act, Congress placed a one year moratorium on risk based mortgage insurance premiums on FHA loans. Under the risk based premium structure that HUD put into effect on July 14, 2008, borrowers with be...
08/28/2008
There is a great conversation going on about a Friday, August 21, 2008 post over on the Blown Mortgage blog regarding seller funded down payment assistance programs. I encourage everyone to go and take a look at it before reading the rest of this column. The conversation is centered around a gues...
08/22/2008
The waiver of the FHA anti-flipping rule only applies to lenders, their subsidiaries or their vendors who are selling the foreclosed homes to owner occupant buyers. For more information, see my blog post "FHA Guidelines: FHA Waives Anti-Flipping Rule". Carl Pruitt http://fhaloanadvice.com  
06/19/2008
HUD is once again about to propose the rule banning down payment assistance programs and open it up for a 60 day comment period. You can find more about that at the link above. HUD continues to use higher default rates associated with loans using DPA as their rationale for killing off the non-pro...
06/11/2008
I really wish that a few of my brethren in the mortgage business would stop constantly looking for the next easiest scam just to get more loans. Take a look at this "Some Buy a New Home to Bail on the Old" in the Wall Street Journal and I beg you, please try not to get on that bandwagon no matter...
06/11/2008
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Carl Pruitt

http://FHALoanAdvice.com
local_phone(678) 245-4744
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Information and updates about FHA mortgage programs