To much fanfare, FHA announced measures to better protect their insurance fund in a recent Final Ruling published in the Federal Register. Slipped in as a footnote to this announcement was a declaration that FHA is deaf to the concerns of the real estate industry. They are taking aim to again attempt to reduce the [...]
Read more
Tag Archives: fha
FHA Mortgages: Enough Already!
January 13, 2012
4 Comments
Borrowers are going to pay more for an FHA loan in 2012. FHA mortgage insurance premiums are going up AGAIN. This change could possibly take an approved loan file straight to the DENIED bin. The recent, signed legislation to extend the payroll tax deduction means an increase in FHA’s mortgage insurance premium. The FHA (Federal [...]
Read moreDo I Need to be Late My Mortgage to Qualify for a Short Sale? – Don’t Take Yes for an Answer
October 7, 2011
0 Comments
I have a lot of people call me to get pre-qualified to purchase a home using FHA financing after a short sale. Early on, not a lot of these scenarios panned out but these days, more and more of them do. When they don’t, the number one reason is because they took bad advice from [...]
Read moreGetting Married? Buying a house? Why not use your registry for a Down Payment Registry?
October 7, 2011
0 Comments
If you are planning on getting married soon and buying a home – then why not use your registry as a Down Payment Registry. This is a nice way to help add to your down payment funds. FHA has a Bridal Registry Program that allows the funds you receive as wedding gifts to be used [...]
Read moreFHA Loan Limits going DOWN in the Mpls/St Paul metro on October 1st!!!
September 7, 2011
0 Comments
Well… as we all know our economy is looking SO GOOD that it may make lots of sense to LOWER the current FHA loan limits in less than a month right? Here in the Mpls/St.Paul MSA borrowers purchasing power with FHA loans is being reduced by almost $50,000 very soon. The loan limit for MOST [...]
Read moreWhat are Compensating Factors When Qualifying for a Mortgage?
April 24, 2011
0 Comments
Although we wouldn’t know it from watching the six o’clock news, mortgage underwriting guidelines and mortgage insurance underwriting guidelines have been in a pattern of loosening, not tightening. This trend started in late 2009 and continues today with such examples as lower minimum credit scores for mortgage underwriting guidelines and fewer declining markets for mortgage [...]
Read moreFHA Premium Rate Increase Makes PMI a Better Option for Many Borrowers
April 18, 2011
0 Comments
The Federal Housing Administration (FHA) implemented a 25 bps increase to its annual premium rates on April 18, resulting in a payment increase for FHA borrowers. With this change, RMIC (an iLoan preferred mortgage insurer) offers equal or lower monthly premium rates on all LTVs with no upfront premium. RMIC Monthy PMI vs. FHA MIP [...]
Read moreWhat are “extenuating circumstances”?
March 23, 2011
0 Comments
Many people trying to buy a home after a short sale find it difficult to navigate through loan programs that they may be eligible for and various waiting periods that may be applicable. If late payments occur, most people are told that the waiting period for buying a home after a short sale is 3 [...]
Read moreC’Mon Minnesota Legislature, . . Just Ban Deficiency Judgments
November 27, 2010
1 Comment
In some regards, the MN legislature was ahead of the curve on the mortgage and housing crisis. They regulated non-bank lenders and brokers in ways that other states hadn’t even considered. They got ahead of abusive practices towards distressed homeowners and shady loan modification companies. What they have unequivocally failed at is aiding homeowners who [...]
Read moreWhat Does SB931 Mean to Your Seller? . . . It Means That They’re a FHA Buyer!
November 27, 2010
0 Comments
California has taken, barring the stupidest veto ever, a clever step towards opening doors for homeownership. A primary intention of this bill no doubt was to flush the market of negative equity and aid struggling homeowners. It has an added benefit of streamlining continued homeownership for those who will do a short sale after January [...]
Read moreFHA Mortgage Insurance and Seller Concession Changes – Ramifications
September 2, 2010
0 Comments
HUD has regrettably increased the annual mortgage insurance premium and soon will have succeeded in reducing the allowable seller concessions. It’s easy to know that this will have a big impact but it will actually change the lending landscape.
Read moreYour Local Lender
- Purchase a HUD owned Home with the $100.00 Down Payment Incentive Program
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Seller Paid Closing Costs Reduction Announced
- First Time Home Buyers, Now that You’ve Opened “The Box”
- FHA Mortgages: Enough Already!
-
Joe Harvey MortgageJoe's Blog: Kim, Good information in Who is Buying Homes. Tha...
-
Who is Buying Homes? « Midwestliving's Blog: [...] First Time Home Buyers, Now that You’v...
-
Charles Dailey: Who is was determined to be responsible for the mo...
-
April: Hi Charles, Thank you so much for this informat...
-
Aida: You may be in luck based on the lmitied facts you ...
- Buying a Home after a Short Sale – Don’t Believe the Naysayers
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Mortgages: Enough Already!
- Minneapolis & Saint Paul Housing Show Signs of Improvement
- Monthly Private Mortgage Insurance – It Doesn’t Make Any Sense. . .
- Fannie Mae Guideline Changes – Gifts, 97% Financing and Mortgage Insurance
- Wanna Be a Good Mortgage Applicant? . . Then it’s Time to Get Naked!
- Does Your Loan Officer Wear Lime Green Polka Dotted Underwear?
- Minnesota Home Prices Headed for a Double Dip? – Don’t Believe the Hype
- First Time Home Buyers, Now that You’ve Opened “The Box”
- Purchase a HUD owned Home with the $100.00 Down Payment Incentive Program
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Seller Paid Closing Costs Reduction Announced
- First Time Home Buyers, Now that You’ve Opened “The Box”
- FHA Mortgages: Enough Already!
Authors
-
Charles Dailey
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Seller Paid Closing Costs Reduction Announced
- The Mortgage Process Put Simply
- A PETITION – Bolster Homeownership and the Housing Market by Reforming Regulations Concerning Short Sales
- Fannie Mae and Freddie Make Mac Move to NO Loan to Value Limit Loans on HARP
-
Sherri Sherpy
-
Steven Brand
-
Deb - The Mortgage Lady
-
Michael Dietrich
-
Tom Garrity
-
Joe Harvey MortgageJoe's Blog
-
Tim Swierczek
- No posts
Search MN & WI Homes on the MLS
Search MN & WI Foreclosure Listings
Get Your Free Private Home Searching Account
Today’s Mortgage Rates
Mortgage Industry Feed
- Foreclosures by State and Over Time February 19, 2012
- More Americans Opting for Shorter-Term Mortgage Refis - The Home Front (usnews.com) February 18, 2012
- Will a standardized system for verifying Web identity ever catch on? - CNN.com February 17, 2012
- Philly Fed boss warns against speeding recovery - The York Daily Record February 17, 2012
- Home buying: Most affordable in decades - Feb. 16, 2012 February 17, 2012
- FHA defaults up for ninth straight month February 17, 2012
- Moody's puts the world's largest banks on review February 17, 2012
- HUD to announce more settlements, premium raises to close FHA hole | HousingWire February 15, 2012
- CFPB seeks input on proposed monthly mortgage statements | HousingWire February 15, 2012
- Homeownership: The ultimate dating aphrodisiac - Feb. 14, 2012 February 15, 2012
- NAR Report Finds Housing Affordability on the Rise February 15, 2012
- Economists: Fed Likely to Raise Rates Earlier than Forecast February 15, 2012
- HUD Budget Shows FHA Going Broke February 15, 2012
- January 2012 Pending Home Sales Highest Since 2005 February 15, 2012
- FHA Removes Streamlines From Compare Ratios | Mortgage News | Daily National and State Headlines February 10, 2012
- Zillow Launches New Android App | Mortgage News | Daily National and State Headlines February 10, 2012
- Mortgage bonds and Greece pull down ING February 10, 2012
- Senate bill gives principal write-downs through shared-appreciation plan | HousingWire February 10, 2012
- Nonbank Lenders Must Develop Anti-Fraud Programs, FinCEN Says February 10, 2012
- No Appraisals Required for Rural Borrower Refinance Program February 10, 2012
