ARCHIVED BLOG POSTS
2010
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On Wednesday, I had my assistant go through and update some of my marketing pieces. I always keep a copy of everything saved on my laptop, but our marketing department is always updating them so I wanted to make sure I had the most current ones available. given that we have so many pieces it d...
12/31/2010
On December 23, 2010, Fannie Mae announced an increase to its mortgage pricing structure. This new pricing is effective with mortgage loans with purchase and mortgage backed securities delivery dates after April 1, 2011. You can expect to see all mortgage lenders implement these pricing changes...
12/27/2010
7
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With FHA mortgages continuing to take more of the market share, questions often arise regarding what are the potential repairs might be required when the buyer is obtaining an FHA mortgage. In late 2005, HUD revised their minimum property standards requirements for FHA mortgages. Prior to this ...
12/25/2010
Question: Can I close on my mortgage on Saturday or Sunday? Answer: The answer to this question is no. Mortgage closings are only held Monday through Friday. Saturday and Sunday are not considered to be funding days for mortgage transactions. Mortgage company and closing attorney/title compan...
12/21/2010
The demise of the FHA 90 Day Flip Financing rule has been incorrectly reported. Inaccurate reports continue to make their way around stating that certain deadlines have now passed for the FHA 90 Flip Financing Waiver. I am pleased to report that they are untrue at this time. On January 15, 200...
12/21/2010
The FHA 203K Renovation mortgage gives the borrower the ability to select their contractor(s) for their renovation project. The contractor must be licensed and insured. Documentation requirements are as follows: Contractor's Profile completed with at least Three (3) References Copy of Contracto...
12/20/2010
The FHA 203K Renovation mortgage gives the borrower the ability to select their contractor(s) for their renovation project. The contractor must be licensed and insured. Documentation requirements are as follows: Contractor's Profile completed with at least Three (3) References Copy of Contracto...
12/20/2010
Beginning Wednesday, December 8, 2010, an estimated 45,000+ condo projects were set to have their FHA approvals expire. As one can imagine, re-approving that many projects expiring at the same time would be a formidable task for lenders as well as HUD. Earlier this week, HUD changed the expirat...
12/11/2010
38
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I have seen several inaccurate posts and comments lately regarding the ending of HUD's 90 Day Flip Waiver for FHA mortgages. On January 15, 2009, HUD announced a waiver to its restriction of a borrower being able to obtain FHA financing on a property that had been acquired by the seller in the 9...
12/11/2010
On December 8, 2010, an estimated 45,000+ condominium projects lose their FHA approved status. The Atlanta zip code of 30309 has 9 of them. There are 6 projects that will expire in 2011 and 15 are good until 2012. FHA Approved Condo Projects - Expiring 12/07/10 Ardmore -Sheryl Brookwood Park Co...
12/03/2010
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Rodney Mason, VP of Mtg Lending
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