FHA Loan Advice

There is an article on the BusinessWeek.com site that confirms something that I have been thinking for some time. The author, Preshant Gopal, points out that some of the areas where foreclosures are concentrated are not the areas where adjustable rate mortgages are concentrated. In areas where th...

FHA Mortgage Reform could again be delayed by ridiculous political antics. Who else but a bunch of politicians could take what should be a simple sprucing up of a program which is basically good enough already, needing only to be expanded to include a few more people, and turn it into a multi-yea...

The new FHA Modernization Act looks like it will end up making it easier for mortgage brokers to get approved for the FHA program. Eleanor Thorne of New Garden Mortgage in NC wrote about it here. I'm a little unsure about it. I sincerely want to see the FHA program made available for more borrowe...

I just caught an article in Reuters which reports that only 266 FHASecure loans have closed since September!You can find out more about at: http://fhaloanadvice.com/index.php/2007/12/18/is-fhasecure-a-complete-flop/  I know that I have been hearing grumblings about it from loan officers, but this...

The Senate has just passed legislation that would open the door for FHA to become more competitive in the marketplace! The FHA Modernization bill, which now heads back to the House for “reconciliation” before heading to the White House, had been stalled in the Senate for weeks. Details still to b...

Will the 3 month old FHASecure Initiative save all the borrowers with subprime mortgages facing foreclosure? The crystal ball is still a little murky on this issue. However, according to statistics, more than 40,000 FHA Secure loans have been approved. Many of the subprime mortgages at issue have...

Every few minutes all day there is a new headline trumpeting the meltdown of the mortgage industry or another lender going down the tubes. It is becoming more difficult to obtain a conventional mortgage every day. Qualification guidelines are tighter than they have been in years and getting tight...

According to several reports I have read, Senator Tom Coburn from OK, whom I came down hard on in a previous post, has let it be known that his objections to the FHA reform bill are small and primarily have to do with reverse mortgages. In an exchange with Senator Charles Schumer of NY on the Sen...

Everyone interested in FHA mortgages needs to take a look at two informative blog posts. FHA mortgage reform is still being held up in the Senate for petty political reasons. You can find the information about it atFHA Mortgage Reform: More Petty Politics In Action You can also find an excellent ...

Will the FHA modernization legislation ever be passed?  I watched the President's press conference today and the thing that really stuck out to me was that the FHA Modernization bill which has been around since April of 2006 and it is still sitting - in it's second incarnation - in the Senate wit...