Archive for March 2010

USDA Rural Housing – Out Of Money.

Your mortgage branch could be done with USDA Rural Housing for the year! According to the estimates by the USDA Rural Development Agency the Single Family Program  will be out of fund by the end of April for 2010. In a memo dated April 9,2010 that was sent to all participating lenders the agency said: […]

FHA Mortgage Net Branch Notice

Important – FHA Mortgage Net Branch Notice – Important The deadline is upon us for the increase in the upfront mortgage insurance for FHA loans.  All net branch manager, loan officers, processors and independent owners need to be aware of this information. From HUD: Lenders are reminded that effective for FHA loans for which the […]

Net Branch best business model for mortgage professionals

Why is a net branch the best business model for most mortgage professionals? One of the reasons is that current and pending legislation is making it harder for small independent mortgage shops to survive. As our mortgage lending environment continues to change more mortgage lending professionals are switching to the net branch business model because […]

Mortgage Net Branch and New HUD Rules

The title for this post should be “Are the people at  HUD out of their fracking minds?” HUD has extended the deadline for correspondent lenders (mortgage brokers) to provided their audited financials. The big problem is that the extension period is useless. It’s a 30 day extension. Since HUD has a proposed rule change in […]