What is happening today in mortgage lending:
Mortgagee letter 09-2009
TO: ALL APPROVED MORTGAGEES, ALL FHA ROSTER APPRAISERS
SUBJECT: Adoption of Market Conditions Addendum (Fannie Mae Form 1004MC/Freddie Mac Form 71) and Appraisal Reporting Requirements for Properties located in Declining Markets
Currently, all Federal Housing Administration (FHA) Roster Appraisers are required to report on housing trends in the Neighborhood section of the applicable property specific appraisal reporting form. The Uniform Standards of Professional Appraisal Practice (USPAP) mandate that an appraiser maintain documentation necessary to support all analyses, opinions and conclusions for each appraisal assignment in a work file. In order to ensure greater transparency and accuracy of appraisals performed for FHA-insured financing, FHA will adopt the Market Conditions Addendum (Fannie Mae Form 1004MC/ Freddie Mac Form 71, released November 2008). For all appraisals of properties that are to be security for FHA-insured mortgages and that are performed on or after April 1, 2009, the appraisal must include the Market Conditions Addendum…
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
Thursday, March 26, 2009
Wednesday, March 18, 2009
Utah Stimulus Package helps builders and homeowners
What is happening today in mortgage lending:
The Utah Stimulus bill will go into affect once the Governor signs it. I have a call into the Governors office to find out when that will take place. I know the last day for him to sign everything is April 1st. I hope this helps you.
Basic info: Income limits of 150,000 for a couple and 75,000 max for an individual. Must be a home that has never been lived in. Must be a 30 yr. fixed loan
Is this a sign things has bottomed out? Briefing.com: Housing Starts Jump 22.2%
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
The Utah Stimulus bill will go into affect once the Governor signs it. I have a call into the Governors office to find out when that will take place. I know the last day for him to sign everything is April 1st. I hope this helps you.
Basic info: Income limits of 150,000 for a couple and 75,000 max for an individual. Must be a home that has never been lived in. Must be a 30 yr. fixed loan
Is this a sign things has bottomed out? Briefing.com: Housing Starts Jump 22.2%
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
Tuesday, March 17, 2009
FHA issues new mortgagee letter limiting cash out to 85%
Monday, March 16, 2009
Utah Senate Okays bill to help home buyers
What is happening today in mortgage lending:
Don’t forget March 18th we are offer a class for free CE credits.
This grant program is for any borrower who are within the income limits and is buying a home that has never been lived in before.
Utah Senate Okays bill to help home buyers
Don’t forget the green tomorrow!
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
Don’t forget March 18th we are offer a class for free CE credits.
This grant program is for any borrower who are within the income limits and is buying a home that has never been lived in before.
Utah Senate Okays bill to help home buyers
Don’t forget the green tomorrow!
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
Friday, March 6, 2009
Industry Letter from HUD; Finacial Stability
What is happening today in mortgage lending:
Making Home Affordable Plan:
Two weeks after the President unveiled his plan to help promote homeowner affordability, we are moving forward today with these guidelines to implement that plan," HUD Secretary Shaun Donovan said. "This step forward represents a tremendous coordinated effort between major government and regulatory agencies to help bring relief to America's housing market and homeowners. This plan will help make home ownership more affordable for nine million American families and in doing so, help to stop the damaging impact that declining home prices have on all Americans. To Learn More About the Making Home Affordable Plan’s Refinance and Modification Options, Please visit: http://www.financialstability.gov
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
Making Home Affordable Plan:
Two weeks after the President unveiled his plan to help promote homeowner affordability, we are moving forward today with these guidelines to implement that plan," HUD Secretary Shaun Donovan said. "This step forward represents a tremendous coordinated effort between major government and regulatory agencies to help bring relief to America's housing market and homeowners. This plan will help make home ownership more affordable for nine million American families and in doing so, help to stop the damaging impact that declining home prices have on all Americans. To Learn More About the Making Home Affordable Plan’s Refinance and Modification Options, Please visit: http://www.financialstability.gov
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
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