With FHA announcing streamline refinance opportunities with record low MIP for borrowers whose current FHA loan was endorsed prior to June 1, 2009, we can expect to see a big pickup on FHA streamline refinance loans after the June 11th reduced MIP effective date. This gives us a short window…
If you’re like me, you like to take FHA Mortgagee Letters and dissect them when they are released, put the content info format that makes most sense to you and completely re-create or break down the information that’s given. Okay, maybe you don’t like doing that:). I often like to…
Mortgagee Letter 2012-3 announces several key guideline changes on topics of self-employment, disputed credit, outstanding collections and identity of interest definitions. These changes are good from the perspective that they offer much clearer underwriting requirements on several key topics so not as much is left to interpretation or opinion. All…