Monday, November 24, 2008

Fannie issues Bulletin; HUD Final Rule RESPA

> What is happening today in mortgage lending:
Freddie Mac issues Bulletin announces manual underwriters can not go over 45% DTI and more credit guidelines as well as introducing a new Appraisal form and more.

New HUD Final Rule:



DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Parts 203 and 3500 [Docket No. FR–5180–F–03] RIN 2502–AI61

Real Estate Settlement Procedures Act (RESPA): Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs
AGENCY: Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD.
ACTION: Final rule.
SUMMARY: This final rule amends HUD’s regulations to further RESPA’s purposes by requiring more timely and effective disclosures related to mortgage settlement costs for federally related mortgage loans to consumers…
To read this final rule in its entirety please visit: http://edocket.access.gpo.gov/2008/pdf/E8-27070.pdf

Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com/em>

1 comment:

Patrick said...

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