At the end of 2011, HUD finally released a long-awaited current version of the TOTAL Scorecard User Guide. The prior version had not been updated since 2004. FHA requires that all loans be scored through TOTAL except for those transactions involving borrower’s with no traditional credit scores and streamline refinance…
Since real estate agents often meet with home buyers before the MLO and may learn about where the downpayment is coming from, it’s important that agents understand the basic FHA guidelines regarding gift funds. The more educated the professionals on the buyer’s home purchase team the less likely an oversight…
Wouldn’t it be nice if we could develop our character and achieve the personal growth we desired by ducking into a telephone booth and emerging moments later as the person we really want to be? As human beings we tend to choose the path of least resistance. And do that…