FHA Loan Advice

I apologize if you've already heard about this, but I want to make sure that you have seen the link to the free download that is going around for Camtasia Version 3. They are trying to upsell you to Version 5 at a discount, but Version 3 does almost everything you would ever need to make videos o...

It seems the upcoming changes in FHA mortgage insurance rates haven't drawn much attention. Looks like that may be changing according to this news item that I saw on Bloomberg.com this morning. You can find the full article here: Three U.S. Senators Trying to Block New Federal Housing Rule Accord...

I would like to expand a little on why I am in favor of raising the FHA limits even though I am in general, a rabid libertarian. We all talk about FHA being the new "sub-prime" but it isn't really that at all. And using FHA isn't really a bail-out at all. FHA doesn't even have default levels as h...

I get up this morning, after wondering all this time what had happened to the FHA Modernization Act, only to read that GOP Senators are blocking a vote on the bill! After it was rushed through the House by September 19, it reached the point where even national real estate columnist Kenneth Harney...

While everyone has their eyes locked on Congress as it tries to solve the massive problem of how mortgage brokers are paid, I would like to remind everyone about the real problem in the mortgage industry - fraud. When all the dust settles in the mortgage industry, I believe we will find that a la...

Well H.R. 3915 has passed out of committee with almost no changes.House Panel OKs Bill To Hold Mortgage Lenders More Accountable Everybody wants to "do something" to make themselves feel better when we have a horrible situation like the subprime crisis we have been having. All of us here want the...

The maximum FHA loan limit differs from county to county and is adjusted annually based on the HUD median home price and FNMA loan limits.  For most areas this number did not change during 2006 and 2007. The largest loan that was and is eligible for FHA participation is $417,000, and that is for ...

The FHASecure program was officially announced in September 2007, however it was not until the last few weeks that a “pool” was created for the mortgage backed securities necessary to raise the money to fund loans made under the program. In spite of that delay, FHA Commissioner Brian Montgomery a...

This afternoon the U.S. District Court for the District of Columbia has issued an injunction on behalf of Partners in Charity Inc., Futures Home Assistance Program, Sovereign Grant Alliance, Genesis Foundation, Home Down Payment Gift Foundation, Freedom Home Baptist Church, Inc. and the Dove Foun...

One of the most frequent solicitations being received by mortgage brokers these days is an offer from FHA approved lenders for the non-FHA approved mortgage broker to be paid "up to 3 points" for referring an FHA loan to the lender. There IS a provision for non-approved mortgage brokers to be pai...