FHA News

FHA Training : Discovering FHA

Written By: Bonnie Wilt-Hild

We are witness to the mad dash to become FHA approved. It seems that every broker has applied for a mini-eagle and the brokers that had the mini-eagle have applied for their full eagle. FHA has become the mortgage program of choice not only because of the flexibility of the program but also because it seems to be the only option to get borrowers qualified.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA News : Rewriting the Rules

Written By: Bonnie Wilt-Hild

The past two months have been quite interesting in the mortgage industry. We are witnessing the slow death of the mortgage broker as well as a further tightening of mortgage credit standards where investor relationships are concerned. 


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA News : FHA Modernization

Written By: Bonnie Wilt-Hild

Change is good. It can be exciting and present new challenges that simply make life more interesting. This year has brought about many changes to the FHA mortgage insurance program, so it’s not surprising that I am going to discuss another one this week.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA News : FHA Risk Based Premiums

Written By: Bonnie Wilt-Hild

I have had a lot of questions this week regarding risk based pricing where FHA loans are concerned or as it would be referred to by FHA “Flexible Premium Pricing” and if it were true that HUD will implement such policy soon. The answer to this question is yes and the policy will go into effect on July 14, 2008.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA News : New Guidelines for Non-Traditional Credit

Written By: Bonnie Wilt-Hild

As we all jump back into the FHA game it seems that guidelines are changing as rapidly as the FHA program itself is changing. Each week new mortgagee letters are being issued to appropriate new and expanded guidelines and this week is no different.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA News : The Myth of Manual Underwriting

Written By: Bonnie Wilt-Hild

I would like to take this week to mourn the death of an old friend. This friend was another casualty of what I would like to describe as the cancer of the mortgage industry, increased loan defaults and plain unscrupulous underwriting practices. This friend whom all true FHA DE underwriters adored, was manual underwriting and he will be sorely missed.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA News :: FHA Program Guidance for Increased Loan Limits

Written By: Bonnie Wilt-Hild

Hello all. Well, we knew it was just a matter of time before some type of controls were place on the increase loan limits recently implemented by FHA and sooner than later they have been implemented.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA Training : FHA’s Streamline 203k: A Useful Tool

Written By: Bonnie Wilt-Hild

As we all struggle with current market conditions, tightening credit standards and the disappearance of once available loan programs, it is more important than ever to educate ourselves on the loan programs still available.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA Does Not Do Jumbo

Written By: Bonnie Wilt-Hild

Rumors and speculation have been rampant in the mortgage industry since March 2007. I will agree that we are all witness to a very troubled housing market, however, we have seen a turn very recently from examining the facts and how it effects how we conduct business to embracing the rumor mill as a way to stay abreast of the ever changing market.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Let's Process Mortgage Loans

Written By: Bonnie Wilt-Hild

I was recently hosting a seminar and during a question and answer session, I had an individual ask me what was the greatest deficiency I was seeing in files submitted for underwriting. At the time my answer was incorrect loan amounts due to the changing of rules where the UFMIP was concerned. But after several days of underwriting files, I have changed my mind. The correct answer should have been that the files are simply not processed.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.