HUD Postpones Implementation of HVCC for FHA
December 23, 2009 by Matt Freeman
Filed under Buying a Home, Home Financing
Breaking news is that HUD has Postponed the implementation of HVCC for FHA loans until February 15th, 2010. This delay is too allow time for Lenders to adjust to the changes. It is a two part action plan:
1) Prohibition of Mortgage Brokers and commission based lender staff for the appraisal process
2) Appraiser selection for FHA Connection
This will be effective for all case numbers after the 15th of February.
Good Faith Exactimate, Merry Christmas and Happy New Year:)
December 23, 2009 by Matt Freeman
Filed under Buying a Home, Mortgage News
January 1st, 2010 all loans will be subject to the new Good Faith Estimate designed to make it easier to understand. More Details soon. If you are going to get a loan after the first make sure that you understand the new Good Faith Estimate.
Reminder Fannie Mae Changes Debt To Income December 12th
December 9, 2009 by Matt Freeman
Filed under Mortgage News
IMPORTANT CHANGES DECEMBER 12th right around the corner. See Original Post regarding the details of the transaction:
If you are a buyer it would be good to contact your mortgage professional and make sure that these changes do not effect you! If you have any questions please feel free to contact me.
