FHA loans – Changes are here
August 2, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – With the increased role FHA has taken in the lending world since 2007, FHA has experienced an increase of foreclosures which caused FHA to tighten lending guidelines, increase down payment requirements and institute minimum credit score requirements to qualify for an FHA loan. Here are some changes that have been made or are on [...]
Why are FHA loans so popular?
November 24, 2009 by Jeff Thomas · Leave a Comment
Why is FHA so popular today? Credit score: FHA has always been a friend to the borrower with bruised credit. But up until roughly 1999 credit scores were not that integrated into the mortgage lending process. And FHA lenders were still manually underwriting loan files up intil the past few years. FHA does not have [...]
FHA Streamline Loan Program Changes
November 20, 2009 by Jeff Thomas · Leave a Comment
Federal Housing Administration (FHA) has implemented significant changes for streamline refinances . These changes will affect all FHA streamline loans across the country and in the northern Virginia area, Vienna, Virginia, Alexandria, VA, Fairfax and the surrounding cities and county’s. These changes take place on all FHA case numbers ordered on Wednesday, November 18, 2009 [...]
Changes Coming To FHA Streamline Program
October 25, 2009 by Jeff Thomas · Leave a Comment
Changes to FHA streamline program are not for the ease of the consumer. And the changes are not for the better. In fact, most FHA loan holders will not like the changes. The US Dept of HUD recently announced that it will be making new revisions to FHA streamline refinance guidelines. Effective November 17, 2009, [...]
