Rain Drop Ads
Tag Archive
Two Flaws with the new Good Faith Estimate
Let me begin by saying I think that uniform Good Faith Estimates are a huge step in the right direction. However, I’m quickly reviewing the newly revised Good Faith Estimate and HUD-1 Settlement Statement (beginning on page 46; link below) to see if any changes were made since they were unveiled. The two biggest issues that... »
The Fate of Fannie and Freddie
Fannie Mae and Freddie Mac opened trading at record lows due to rumors about a possible bail out. I’m writing this waiting to hear an announcement from Treasury Secretary Paulsen…. If you are in a transaction at this time and your mortgage fits within the FHA loan limits ($567,500 for King, Pierce and Snohomish County),... »
A+ Mortgage Receives an F from HUD
I spent part of last week at an FHA conference and had a chance to learn all about their upcoming changes which Rhonda blogged about here. In the past I have been critical about the lack of HUD auditors regulating their laws. Regulation has mostly been left up to state agencies. Personally, I’ve only seen a HUD... »
Mortgage rates heading up
Mortgage rates continue their trend upward and they don’t look like they’re coming back down soon. This market is still very volatile and as I always, I encourage you to lock and not float your interest rates if you a closing within the next 4-6 weeks. If you’re hunkering for... »
The Baby or the Bathwater
Are we throwing out a program that works, the FHA Down Payment Assistance Program, in this case the baby, while trying to fix the sub prime mess, the bathwater? I guess it all boils down to how valuable home ownership is and how well it helps drive a healthy economy. A lot of realtors, including myself, have... »
FHASecure: A Helping Hand for Those Who Did Not Refinance in Time
Update January 9, 2009: This program is no longer available effective December 31, 2008. This afternoon I received our Mortgagee Letter from HUD with the nitty gritty on FHASecure. Since our company is a HUD Approved Mortgagee lender (we’ve been providing FHA financing since our inception back in 1976); we are also approved to help... »
FHA Secure: A Political Power Move Disguised as a Helping Hand to Those in Need
Bush offered America some presidential words this morning to let us know he’s on top of this whole subprime meltdown, credit crunch, liquidity crisis. On his agenda: An FHA bailout in the form of a new feel good loan program: FHA Secure. Let’s pause for a moment and reflect back on how well HUD... »
Subscribe to RCG
