The
National
Association of Mortgage Processors (NAMP) predicts FHA loan programs
may start
to replace Sub Prime mortgages in the months ahead. Embracing this
shift, NAMP
has partnered with the nation's leading FHA training school, FHA
Training
University, to offer live, instructor-led online FHA training classes
to
students nationwide.
Washington,
D.C.
(PRWEB) April 28, 2007 -- The National Association of Mortgage
Processors
(NAMP) predicts FHA loan programs may start to replace Sub Prime
mortgages in
the months ahead. Embracing this shift, NAMP has partnered with the
nation's
leading FHA training school, FHA Training University, to offer live,
instructor-led online FHA training classes to students nationwide.
In
recent
months, some of the mortgage industry's top Sub Prime players (New
Century
Financial Corp., People's Choice Financial Corp. and others) have gone
out of
business. With a fall out in the Sub Prime mortgage space, FHA loans
have
become an attractive option among borrowers seeking an alternative
financing
solution.
As
the
government's largest mortgage program, the Federal Housing
Administration (FHA)
loan has been basically a low down payment source for first time
homebuyers
with issues with their credit, but who could fully document their
income and
assets. In recent times the Federal Housing Administration has made
some
significant changes. According to FHA Commissioner Brain D. Montgomery,
the
agency has shifted from its historical emphasis on the repair of minor
property
deficiencies and now only requires repairs for those property
conditions that
rise above the level of cosmetic defects, minor defects or normal wear
and
tear.
NAMP's
recent
partnership with FHA Training University creates a unique,
cost-effective way
for mortgage processors and loan originators across the country to
obtain sound
FHA processing, sales & compliance education, taught by FHA
industry
veterans.
About
FHA.
The Federal Housing Administration, generally known as "FHA",
provides mortgage insurance on loans made by FHA-approved lenders
throughout
the United States and its territories. FHA insures mortgages on single
family
and multifamily homes including manufactured homes and hospitals. It is
the
largest insurer of mortgages in the world, insuring over 34 million
properties
since its inception in 1934. For information, visit http://www.FHA.gov.
About
NAMP.
Based in the heart of Washington D.C., the National Association of
Mortgage
Processors (NAMP) is known throughout the mortgage processing industry
as the
voice of today's mortgage processor. NAMP is dedicated to assisting
contract
loan processors as well as in-house mortgage loan processors, in all
aspects of
their business. For more information, visit NAMP online at: http://www.MortgageProcessor.org.
About
FHA
Training University.
FHA Training University offers live, instructor-led online FHA training
classes
to students nationwide. For more information, visit http://www.FHAtraining.org.
