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How Many Miles Per Gallon Does Your Home Get?

by on March 25, 2010

I’m not sure if you heard or not, but this week, the federal government announced a major policy change that will most likely affect every American. Don’t worry, I’m not talking about the health care overhaul – I’ll let others debate the merits of that. What I am talking about is the new Housing and [...]

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FHA to waive 90-day flipping rule

by on February 3, 2010

The Dept. of Housing and Urban Development (HUD) announced Friday it will eliminate for one year the Federal Housing Administration (FHA) 90-day anti-flipping rule.  FHA’s anti-flipping rule generally prohibits insuring a mortgage on a home owned by the seller for less than 90 days.  That rule already has been waived for certain transactions, including REOs.  [...]

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FHA Policy Changes

by on January 18, 2010

Starting Jan. 1, 2010, the Federal Housing Administration will adhere to new credit standards and appraisal guidelines for FHA-insured mortgages.  The new guidelines, which essentially align with HVCC rules, will prohibit the undue influence of appraisers, or the choosing of an appraiser, by mortgage brokers or commission-based lender staff.  In addition, the FHA’s appraisal validity period [...]

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HUD / FHA Changes That Mortgage and Real Estate Professionals Need To Be Aware Of

by on December 5, 2009

Effective January 1, 2010, HUD is requiring loan originators provide borrowers with a Standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs and that closing agents provide borrowers with a revised HUD-1 Settlement Statement. There are three main areas of regulation and updates that mortgage brokers have to pay attention [...]

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