Archive for the ‘FHA net branch’ Category

FHA 2015 big changes to HUD guidelines

This is a great video to get us all off of our butts and read the new FHA guidelines. FHA Income Documentation FHA Rental Income 2nd FHA Loan Just a few of the areas of change coming. Here is a link to the new HUD handbook in PDF Questions or comments are always welcome!  

The HUD RESPA Q&A a Must Read

Have you read the Q&A that HUD published on RESPA? Most people in the mortgage industry seem to have missed this must read document. Seller Paid Items, Denial, Change of Circumstance, Important Dates, Escrow Account Information, Loan Summary, among other topics. The document answers questions like; Can items be listed as POC on the GFE? […]

Is the net branch company you are with closing it’s doors?

Many Net Branch Companies will close their doors! HUD has just release the final rules on the required net worth requirements for mortgage  lenders to keep their HUD approval. If your net branch company is currently a HUD approved lender the new HUD rule will increase the minimum net worth by 4 times. The old […]

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 […]

Big Changes for Mortgage Net Branch Managers in 2010 – Part 2

More about the big changes for mortgage net branch managers in 2010. There is now a new 4 page GFE (Good Faith Estimate) and new disclosure rules to go with it. The new GFE has you disclosing the figures several different way to (in theory) help the borrower better understand the transaction. The initial fees […]