FHA

FHA changed their guidelines on a cash-out refinance by lowering the loan to value to 80% from 85%. This goes into effect on September 1, 2019 so we still have a small window of time if you are considering this option. Contact me or PM me to discuss.

Related Article Title: FHA Mortgagee Letter 2019-11, Maximum Loan-To-Value and Combined Loan-To-Value Percentages for Cash-out Refinance Mortgages – Dated August 1, 2019 Written by: Tracey Rumsey, Staff Writer Big changes for FHA originators as FHA evaluates the programs that are causing their insurance fund the most problems. If you originate FHA loans, this is a [...]

2019-08-09T13:19:42-05:00August 12th, 2019|FHA, Social Media Posts|

FHA issued an update regarding Well/Septic requirements. If you would like an updated property conditions checklist, comment below.

Related Article Title: FHA Updates to Handbook 4000.1, FHA Info # 19-34, July 10, 2019, Effective July 10, 2019 Written by: Tracey Rumsey, Staff Writer FHA is finally starting to issue timely updates to their underwriting manual so that lenders do not need to hunt for rules and then re-verify what they read. This article [...]

2019-08-09T13:24:07-05:00August 12th, 2019|FHA, Social Media Posts|

FHA Mortgagee Letter 2019-10, Suspension of the Effective Date of Mortgagee Letter 2019-06, Down payment Assistance and Operating in a Governmental Capacity, July 23, 2019

Written by: Tracey Rumsey, Staff Writer FHA is attempting to change their guidelines on down payment assistance. Read this article to find out where FHA presently stands on the subject. Rule Synopsis: The effective date of Mortgagee Letter 2019-06 (case numbers assigned on or after April 18, 2019) is suspended until further notice. Mortgagees must [...]

2019-08-12T09:51:47-05:00August 12th, 2019|

FHA Mortgagee Letter 2019-11, Maximum Loan-To-Value and Combined Loan-To-Value Percentages for Cash-out Refinance Mortgages – Dated August 1, 2019

Written by: Tracey Rumsey, Staff Writer Big changes for FHA originators as FHA evaluates the programs that are causing their insurance fund the most problems. If you originate FHA loans, this is a must read. Rule Synopsis: Effective for case numbers assigned on or after September 1, 2019. All policy updates will be incorporated into [...]

2019-08-09T13:31:05-05:00August 12th, 2019|