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FHA BREAKING NEWS
HUD’s 203(k) Rehab Program Gains Popularity 
Rehabilitating a home
through HUD’s 203(k) Rehab Program involves various single family
mortgage insurance programs administered by the FHA. According to HUD,
the mortgage loans are obtained through FHA-approved lenders, which
submit applications to conduct credit approval of the buyer and have
the property appraised. The lenders fund the mortgage loans that are
then insured by HUD.
Importantly, the 203(K)
Rehab Program is HUD’s most effective and used program for the
rehabilitation and repair of single family homes. Thus, it is an
invaluable resource for community and neighborhoods that wish to
restore and renew the homes in their area, and as a result, also expand
opportunities for homeownership. Restoration and revitalization of
communities is HUD’s primary goal, and the 203(k) Rehab Program
is intended to maintain importance and support amongst HUD and its
participating lenders... Read Full Story >>
THE BLOG CAFE
FHA Property Red Flags For Processors
Written By: Stacey Sprain, CALP
There are
a few things that need to be clearly communicated to you as the
processor for each incoming FHA file so that you are able to
“head off” what can turn into last minute processing
requirements. If you receive a file without these details clearly
established, you need to ask the questions necessary to determine the
answers. Asking a few simple questions up front can save you a lot of
grief and conditions that can pop up later in the process, hold up the
file and hold up the customer’s closing... Read Full Blog >>
Keeping It In Perspective – Why We Do What We Do
Written By: John Hoxsey, CMLP
 As
we leave the Christmas Holiday behind and move into the New Year, it is
a good time to remind ourselves why we do what we do. This
business can get a person moving so fast and can push you off balance
before you can bat an eye. I read a book recently by a psychologist
that had an interesting perspective. He was spending so much time
in his office that his relationships at home were suffering.
Think about that. A psychologist whose job is to help people with their
relationships was missing the whole point of his practice... Read Full Blog >>
DISCUSSION BOARD
Fresh Start Program?
Posted By: Michelle Reid, NAMP Member
Has anyone
heard of the Fresh Start Program. Supposedly it is a government program
that can help people get caught up on their mortgage payments. Just
curious. ... Read Answers >> (6 comments)
How Can We Benefit From the Mortgage Meltdown?
Posted By: Nancy Martinez, NAMP Member
Hi
all, Just wanted to bring to the discussion a very real issue we are
all facing as contract processors. Since the "mortgage meltdown" of
many sub-prime lenders across the country, how can we benefit or take
advantage of this situation? How can we as contract mortgage processors
turn this into a positive? Any ideas would be great! Marketing tips,
advertising suggestions, etc... Read Answers >> (5 comments)
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