I recommend getting a case number on everything that you have pending before 7-14-08. Being able to subordinate an existing lien when the CLTV exceeds the statutory limits is excellent news!
"Did FHA really mean that all conventional-to-FHA "co cash-out" mortgages must move to the FHASecure Program? (Unfortunately, I think they did.) I recommend getting a case number on everything that you have pending before 7-14-08."
FHA No Cash Out, What has Happened to This Program?
(Mortgagee Letter 2008-13, May 7, 2008)
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