Lenderama

FHA Mortgage Insurance Premium Changes 2012

Paul Bayarena — Fri, 04 May 2012 18:35:04 +0000

Up Front and Annual Mortgage Insurance Premium (UFMIP and annual MIP) Increases for all FHA Loan transactions and Decreased for Certain Streamline transactions. As announced March 6th, 2012 in Mortgagee Letter 12-4 and illustrated in the chart below. Up Front and Annual Mortgage Insurance Premium (UFMIP and annual MIP) Increases. FHA increased the upfront mortgage insurance [...]

What’s with All the HUD Emails?

Karen Deis — Tue, 10 Apr 2012 18:47:58 +0000

What’s With All the HUD Emails? Karen Deis, Publisher, www.MortgageCurrentcy.com I don’t know what’s happening at FHA lately, but they seem to be back-pedaling A LOT lately, and worse yet, modifying some of the mortgagee letters by sending an “email” instead of a “formal notice.” Here are a couple of things HUD has updated that [...]

Mastermind 2012 – Las Vegas June 6 through 8

David Orsini — Mon, 19 Mar 2012 14:43:57 +0000

Learn the Critical Money Making Skills You Need To Build a Profitable Mortgage Business! Join us at The Palms Hotel • Las Vegas • June 6 – 7, 2012 This is THE mortgage event of the year. Mastermind 2012 is bringing the industry’s top speakers all together on the same stage for the first time [...]

What the FTC means by “Commercial Communications” For Mortgage Lenders & Real Estate Agents

Karen Deis — Mon, 05 Mar 2012 18:45:40 +0000

The Mortgage Acts & Practices Rules have been in effect since August 19, 2011—so it’s been around for a while buy not many people know about it…YET! A large part of the rule explains “definitions” and what they mean. And the biggie here is the Fed’s definition of “commercial communications”—or the various ways real estate [...]

NAR 2011 Home Buyer Survey Results – First Time Home Buyer Statistics

Karen Deis — Fri, 24 Feb 2012 22:16:50 +0000

National Association of Realtors® 2011 Home Buyer Survey Results – First-Time Home Buyer Statistics. The 2011 NAR report called “Profile of Home Buyers and Sellers 2011” has just been released, with a huge amount of information that will help you plan where you should be spending your time and your marketing dollars! While this info [...]

Are You One of the 19 States? USDA Refi Pilot Program!

Karen Deis — Mon, 13 Feb 2012 20:01:57 +0000

Good news. If you currently have a USDA loan, call me about the new refinance program. No credit report, no appraisal, no property inspections, no income verification. Last 12 months mortgage payments must be made on time. Interest rate must be 1% below current rate borrowers are paying now With the issuance of AN4615 on [...]

VA Loans Still Safest Product on the Market

Chris Birk — Fri, 03 Feb 2012 20:41:20 +0000

The Department of Veterans Affairs issued a news release this week trumpeting the continued growth of the VA Loan Guaranty program. The agency backed just under 360,000 loans last year, a 14-percent increase from FY10 and a whopping 168-percent increase since FY07. But that wasn’t the only good news. The release also noted that VA [...]

Free H.A.R.P 2.0 Class – All Hype? Or a Big Help?

Karen Deis — Fri, 27 Jan 2012 19:36:09 +0000

So, I asked a bunch of Loan Officers to post their HARP questions on www.facebook.com/mortgagecurrencty and there were so many, that I ended up doing a free class with a HARP expert–who has first-hand street creds because he also originates these types of loans. Here’s a few of the things that you’ll learn” Overview of [...]

HARP Refinance Program – Underwater Homeowner’s in Atlanta Get RELIEF!

Jonathan Blackwell — Sat, 21 Jan 2012 04:47:31 +0000

Underwater Homeowner’s in Atlanta Get Refinance Help from Obama Administration Atlanta, GA (January 2012) - Originally launched in April 2009, the Home Affordable Refinance Program (HARP) was designed to help underwater homeowner’s take advantage of low mortgage rates even if they were low equity or slightly upside down. By allowing underwater homeowner’s the ability to take advantage of today’s lower interest [...]

Do The Mortgage Rule Updates Want to Make your Brain Explode? More HARP

Karen Deis — Mon, 16 Jan 2012 21:18:23 +0000

If This Just Doesn’t Want to Make Your Brain Explode… Can you guess how many rule updates affected JUST the origination side of the business from January 1st to December 31st, 2011? Just guess! Ok, I’ll tell you—it’s 259, or an average of 21 rule updates per month. To get it down to the ridiculous, [...]