FHA OK’S Finance Of Qualified Flips
By C. J. Coury
In an effort to speed up the resale of foreclosed properties the FHA has announced that it will begin to insure loans on properties that were re-sold within 90-days of purchase by the seller.
This change will allow lenders to offer FHA financing to buyers who are attempting [...]
Financing “As-Is” Properties
By C. J. Coury
A rarely used loan product, the FHA 203(k), is fast becoming one of the hottest topics on the training front. The renewed interest in this evolving product is due to the high number of distressed properties on the market and the declining amount of “cash” buyers to sell it to [...]
RESPA/Regulation X Changes
Information Courtesy Of C. J. Coury
The U.S. Department of Housing and Urban Development (HUD) has announced significant revisions to the lending requirements under RESPA/Regulation X. These changes impact the Good Faith Estimate (GFE) and HUD Settlement Statements (HUD-1 and HUD-1A) and will be effective with new first mortgage applications taken on or after [...]
Monday, March 1, 2010
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