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FHA to tighten some loan rules

Some changes could make it more difficult for a buyer to qualify. Amount over $625,500? You now need 5% down. Lower credit score

FHA wants 5% downpayment for jumbo loans

Would that create a hardship for clients? Why? There’s a 30-day window for comments that FHA will consider before finalizing or

Realtors: FHA plays vital role for homeowners

In testimony before a U.S. Senate committee last week, NAR encouraged lawmakers to retain the FHA mortgage program, saying it ai

Time to look at the FHA 203k mortgage program?

An FHA 203k mortgage allows buyers to finance and fix a home under a single loan. Downpayments of at least 3.5% are required, bu

HUD to sell 20,000 distressed loans to investors

The sale involves FHA loans on the brink of foreclosure. Investor-buyers can’t foreclose for six months and are encouraged to he

Sequester could make FHA a tad less convenient

Don’t hope for FHA action on some Fridays this summer, such as May 24. To save money under its mandate, HUD offices will close t

Some condos nixed by FHA now have a backup plan

More condo projects now include wording that allows units to operate as transient rentals, which isn’t allowed. But FHA now prov

HUD and FHA offices closed on Monday, July 22

FHA’s Resource Center and National Servicing Center remain open for general questions, but they’re not allowed to help with a sp

HUD proposes ‘qualified mortgage’ definition

FHA issued its own qualified mortgage (QM) standard today. An ability-to-repay rule limits points and fees. Small number of futu

FHA, VA loans ‘safe’ during government shutdown

Contrary to media reports, Florida Realtors confirmed that new FHA single-family home loans will be processed if the government

FHA answers questions about shutdown’s impact

While FHA-backed lending continues, banks that require IRS or Social Security info may not be able to get it. If so, a lender de

Fannie Mae changes mortgage loan restrictions

On Nov. 16, Fannie Mae’s minimum loan downpayment goes from 3% to 5% and loans top out at 30 years – but, unlike FHA, it doesn’t

FHA to real estate: Expect a few delays

While most mortgage-funding functions weren’t impacted by the shutdown, FHA says it still has a “considerable backlog of work” a

Condo sales challenge: Restrictive FHA rules

NAR: While condos make good first-time homes, FHA has cut back on the number of buildings it approves – 60% were denied in 2013

FHA loan limits to drop next year in South Florida

The federal government announced Friday it’s lowering home loan limits in South Florida and across the country next year.

HUD: New FHA loan limits take effect Jan. 1

Current cap in areas with relatively low housing costs remains unchanged at $271,050; but the high-cost area cap drops from $729

FHA finances improve

Annual audit finds a more stable FHA. While agency added some rules and changed fees for buyers seeking a mortgage, audit finds

FHA to accept more docs with electronic signatures

New policy allows e-signatures on origination, servicing and loss mitigation documents; and FHA insurance claims, REO sales cont

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