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FHA Lender Approval Announcement – April 5, 2010

FHA announced on April 5th more details about the elimination of broker approval and the increasing net worth requirement for FHA DE lenders. There are many problems with the announcement. 1) Commissioner Stevens likes to get the word out before the final word is issued. In other words we don’t have an actual final rule to work with yet, only two different press releases. These are just the...
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HR 4811 Summary

HR 4811 – FHA Safety and Soundness and Taxpayer Protection Act of 2010 Introduced March 10, 2010 • Formalizes a Deputy Assistant Secretary for Risk Management • Ability to enter contracts with private companies to analyze credit risk • Increase annual premium up to 1.75% on the remaining insured principal balance • Implements a ‘flexible risk based premium pilot program’...
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