Let’s say you do business with 5 or 6 lenders. You (or your compliance department) get email updates. Maybe you get them one at a time. Maybe you get 10 changes at one time. An easy way to keep track of all lenders, all at one time is by subscribing to www.LendingArt.com. It’s free and when you register, you can pick and choose which lenders you want updates from. It’s just that easy.
Entries tagged with “changes”.
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Tue 31 Aug 2010
Easy Way to Keep Updated with UR Lenders
Posted by karen under Uncategorized
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Wed 4 Aug 2010
HUD Seeks Your Comments on 3 Biggies!
Posted by karen under FHA
No Comments
There’s been a lot of conversation about changing the
structure of FHA loans–and we wanted to let you know
it hasn’t happened…yet!
Here’s a quick synopsis on HUD Press Release 10-150:
HUD Seeks Public Comment on Three Initiatives to Boost FHA Capital Reserves
HUD is accepting comment on the following policy changes:
1. 10% down payment requirement for new FHA borrowers with credit score below 580.
2. Seller concessions to be reduced from 6% to 3%.
3. Tighter UW standards for manual underwrites.
#2 is giving many of us heartburn as it will be the very audience HUD swears to serve, the affordable housing market, that will suffer the most with this change. We would love to see tiered system come out of this instead of a flat across-the-board 3%.
Here is the link to the actual notice in the Federal Register:
Speak now - or forever wish you had!
To make comments electronically go to: http://www.regulations.gov
Make some noise!
Mon 8 Feb 2010
HUD Issues Updated FAQ - 34 Changes
Posted by karen under Compliance
No Comments
Here’s the link to download the January 28, 2010 RESPA FAQ.
34 questions/clarifications - changes are in BOLD LETTERS - Answered some questions that were hangin’ out there!
Tue 26 Jan 2010
HUD updates Settlement Cost Book on 1-6-10
Posted by karen under Compliance
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Title: HUD Settlement Costs Booklet Revised 1-6-2010
Post:
Here’s the link - looks like some minor changes to the booklet. I have not had a chance to read what the changes are, but if you ordered booklets from HUD, you might want to double check and make sure you received the lastest version. P.S. I ordered my HUD booklets January 8 and have not received them yet. They said it would take 5-10 days.
