Mortgage Processing News from NAMP
Friday, February 17, 2012 - 7:33pm
The past few weeks have been quite interesting around the office for me, not because I have had opportunity to learn new things or underwriting interesting cases, but because I have had to endure a whole new level of customer complaints. It seems like more and more these days, when I pick up the phone it’s my boss saying to bring some loan officer to her office because again, she had just gotten...
Friday, February 17, 2012 - 7:32pm
More than a quarter million dollars of federal money will help the Fremont Housing Agency with carpet replacement in Gifford Tower, concrete work, appliance replacement and office space renovation. The U.S. Department of Housing and Urban Development informed FHA Monday of $257,725 in funding as part of more than $8 million awarded to public housing authorities in Nebraska to make major large-...
Friday, February 17, 2012 - 7:30pm
The Federal Housing Administration will exhaust its reserves over the coming year, according to budget projections released Monday, which would require a Treasury infusion for the first time in its 78-year history. But Obama administration officials said more recent developments, including fines that will go to the FHA from last week's $25 billion mortgage settlement with five major banks, could...
Thursday, February 9, 2012 - 7:28pm
At the end of 2011, HUD finally released a long-awaited current version of the TOTAL Scorecard User Guide. The prior version had not been updated since 2004. FHA requires that all loans be scored through TOTAL except for those transactions involving borrower’s with no traditional credit scores and streamline refinance transactions. It’s important to be aware that TOTAL does not
Need FHA Training...
Thursday, February 9, 2012 - 7:25pm
The latest FHA Single-Family Outlook report from the FHA shows that serious delinquencies continue to plague the FHA. The number of seriously delinquent FHA loans increased by 18.9% from last year to a record number of 711,082 mortgage loans. FHA loans classified as seriously delinquent amount to 9.6% of all FHA insured mortgages. A seriously delinquent loan is defined by the FHA as loans that...
Friday, February 3, 2012 - 4:24pm
When I hear those words, they immediately evoke images of a world in which mortgage underwriting decisions are determined by AUS systems that have no capacity to either employ common sense underwriting principals or fairly or adequately assess overall risk. They are simply three more numerical values used by a computer model to “recommend” if a loan should be approved and just like its partner,...
Friday, February 3, 2012 - 4:23pm
Beginning the 37th month of his presidency, the Obama Administration today announced a laundry list of new programs to help struggling homeowners, crack down on abusive lending practices, make mortgage documents easier to read, convert REO to rental, and other assorted initiatives. Some require Congressional approval; others are a work in progress, and a couple can begin quickly. At the heart of...
Friday, February 3, 2012 - 4:23pm
The Federal Housing Administration (FHA) will toughen its standards to approve mortgage lenders doing business with the government, and force more banks and mortgage companies to buy back defaulted mortgages in a major move to crack down on mortgage lenders. The federal government’s changes are part of an effort to improve mortgage lending conditions and reduce losses on home mortgages as result...
Thursday, January 26, 2012 - 6:59pm
The Federal Trade Commission website is a resource I refer people to fairly often because of the informative and educational materials available for consumer distribution. The FTC offers a lot of great information available in web format, PDF format and some materials are even available to order in bulk quantities for free which makes this a great resource for seminar materials and overall...
Thursday, January 26, 2012 - 6:58pm
In December I promised to be giving updates on the new HARP refinance programs as details emerge, and so being good to my word I am returning to the subject. Unfortunately there are not many details to talk about, and what there is to say is almost guaranteed to give you a headache.
For the most part we are holding our collective breaths waiting for Fannie to roll out the new DU portal in March...
Thursday, January 26, 2012 - 6:57pm
Buying a condominium is getting trickier for anyone who wants to put down only 3.5 percent and have the government insure their mortgage. The issue isn’t just the borrower’s financial wherewithal. It’s the building’s, and plenty of condos no longer get a thumbs-up from the Federal Housing Administration. Since Feb. 1, 2010, condo buyers haven’t been able to secure unit-by-unit “spot” approval for...
Friday, January 20, 2012 - 4:24pm
I know what you’re thinking already, “Really Bonnie, we know all about them”, but I say untrue, this based on a conversation I had yesterday with an underwriter friend at Philadelphia HOC. It is always nice to talk to her, catching up with friends is always a good thing and as you can image, she will sometimes share with me some of the most common disastrous mistakes lenders make where various...
Friday, January 20, 2012 - 4:23pm
On Friday, the Federal Housing Administration (FHA) restated intentions originally announced in 2010 to enact more stringent performance requirements for Department of Housing and Urban Development-approved lenders by increasing lender indemnification, with an eye toward limiting risk and strengthening finances for its Mutual Mortgage Insurance (MMI) Fund. “These new regulations strengthen the...
Friday, January 20, 2012 - 4:21pm
FHA mortgages go a step further in order to help consumers purchase a home of their own. Having a qualified co-borrower can make a huge difference for some borrowers when it comes to receiving FHA mortgage approval by adding strength to the most important segments of the loan file. This option is often used when a borrower cannot meet the necessary FHA guideline requirements in order to qualify...
Friday, January 13, 2012 - 4:21pm
One of the things I like to do at the start of each New Year is provide what I refer to as my lists of “freebies.” These are lists of websites and resources that have helped me over the years in one way or another and that often provide ongoing information that is helpful and informative on an ongoing basis. This week I offer my list of favorite VA resources. These are websites and resources that...
Meet Our Newest Members
|
Amy
Glenn
 |
Shelli
Baxter
 |
Allison
Scheets
 |
Carmen
Tercilla
 |
|
Christina
Andrada
 |
Gina
Apodaca
 |
Hung
Le
 |
Natasha
D. Smith
 |
Recent Mortgage News
War Vets Should Get Tax Break on Foreclosures, Fed's Peach SaysBusinessWeekThe program would apply to homes owned by...
Uncle Sam's Fire Sale. Minimum Investment: $1 BillionBusiness InsiderClose to one-third of these — 250000 — sit on the...
Realtors Slam Obama Foreclosure-Rental PlanWall Street Journal (blog)For several months, Obama officials have been studying...
Washington TimesCitigroup 'Defrauded' Fannie, Freddie, Whistle-Blower SaysBusinessWeek22 (Bloomberg) -- Citigroup...
Fannie-Freddie Plan, Sweden FSA, Trader Suspects: ComplianceBusinessWeek22 (Bloomberg) -- With no plan from Congress or the...
Recommended Links
Upcoming Classes
NAMP News Categories
Recent Articles
Fri, February 17th, 2012
The past few weeks have been quite interesting around the office for me, not because I have had opportunity to learn new things or underwriting interesting cases, but because I have had to endure a...
Fri, February 17th, 2012
More than a quarter million dollars of federal money will help the Fremont Housing Agency with carpet replacement in Gifford Tower, concrete work, appliance replacement and office space renovation....
Fri, February 17th, 2012
The Federal Housing Administration will exhaust its reserves over the coming year, according to budget projections released Monday, which would require a Treasury infusion for the first time in its...
Recommended Links
Today's Forum Discussions
Thu, February 23rd, 2012
Thu, February 23rd, 2012
Thu, February 23rd, 2012
Thu, February 23rd, 2012
Thu, February 23rd, 2012
Mortgage Underwriter Jobs
Position Description
Chartis has an opening for an Underwriting Assistant. Responsibilities include:Premium coding - Work...
Underwriter Trainee Program- Overland Park, KS
Job ID
Business Division
Company / Unit Zurich in North America
Function /...
HL Underwriter Sr. - (CHOCS/HPO) Lewisville, TX-110044048Job Description
In this role, you will underwrite and review...
Posted Date: 5/16/2011
Job Category: Banking/Mortgage
Position Title: Underwriter
Salary Range:
Location: Detroit-...
Underwriter - Kansas City
Assurant Employee Benefits:
Assurant Employee Benefits specializes in quality employee benefits...
© 2006-2011 National Association of Mortgage Processors® (NAMP®). All Rights Reserved. Job Description for Mortgage Processor