<?xml version="1.0" encoding="ISO-8859-1" ?><!-- RSS generation done by Broker Outpost LLC on 11/08/2009  12:17:00 AM --><rss version="0.92"><channel><title>Broker Outpost TAG: MORTGAGE</title><link>http://www.brokeroutpost.com/tags/mortgage</link><description>Recent Topics matching the TAG: MORTGAGE</description><item><title>Net Branch 100% Commission On Banked Loans!</title><link>http://forum.brokeroutpost.com/loans/forum/2/280788.htm</link><description>MTG014 Just Joined MBN! 100% Commission On Banked Loans!

Visit http://www.mortgagebrokersnetwork.com Mortgage Brokers Network for more information on one our of new net branch mortgage companies MTG014.

Below Are Some Highlights on MTG014

* Company Established in 1984
* 100% Commission On Banked Loans
* 90/10 Split &#043; $250 On Brokered
* Mortgage Lender &amp; Broker
* Licensed In All 50 States!
* Office Space Required
* W2 Employee
* Encompass For Their LOS System!
* Payroll Every Two Weeks!
* Bank your Loans or Broker You Decide!
* FULL Eagle!
* Full Direct Underwriter!
* Full Direct Seller to Fannie Mae, Ginnie Mae &amp; Freddie Mac
* App to Closing in 7.8 days!
* Competitive Pricing!
* Tier Pricing Incentives Based Closed Loan Production Monthly!
* Mortgage Origination Experience Required!
* Originate Loans Immediately Upon Approval!
* Originators must meet individual State License requirements.
* Also Approved With All The Top Wholesale Lenders To Broker Too!
* Marketing &amp; Lead Generation Services Available!
* Bills Paid Direct From Corporate!
* NO ESCROWS! NO MONTHLY FEES!
* HR, Payroll, Compliance &amp; Quality Control Support!
</description></item><item><title>45 Exclusive, 24 Hour (or less)Mortgage Leads-$200</title><link>http://forum.brokeroutpost.com/loans/forum/2/280683.htm</link><description>&lt;b&gt;HERE IS THE DEAL FOR NOVEMBER&lt;/b&gt;
&lt;font face="Arial"&gt;No contracts, no questions asked on returns, no minimums (well, $200), we generate all the leads from one website and these people want a loan bad. These leads are easy to close if you know what youre doing. Youll cherry pick through 1003s.  We can get any state and city.... just ask.

&lt;b&gt;ABOUT THE LEADS&lt;/b&gt;
The leads are easy to close if you work them right. They are all mostly first time home buyers, renters, and people looking to rent to own because most of them think their credit is bad and they cant qualify for a regular home loan.

&lt;b&gt;THEY ALL WANT TO LIVE IN A HOME&lt;/b&gt;
The leads are generated off of the mortgage lead generating site NetSkrill.com through search engines and various sites.

With these leads, all you have to do is introduce yourself, ask them where they would like to live, take an application and see if they qualify for a home loan.

Learn more at [url]http://www.purchase.cc[/url]&lt;/font id="Arial"&gt;</description></item><item><title>Closing FHAs with 530 scores.</title><link>http://forum.brokeroutpost.com/loans/forum/2/280625.htm</link><description>We are a broker company licensed in AL, CA, FL, LA, MD, MS, MO, NM, PA, SC &amp; TX who is hiring experienced licensed brokers. 

We have FHA lenders that will go down to 530 scores. 

We pay you same day. 

At your option, we can assist in placing your obscure scenarios in minutes. 

Case #s processed same day. 

Everything from logos &amp; artwork to pre-approval letters &amp; LOS provided. 

All files are centrally QCd. 

Quick set up 

PLEASE EMAIL OR FAX YOUR RESUME : EXPERIENCE &amp; ACTIVE BROKER"S LICENSE REQUIRED 

Thanks &amp; have a great day, 

Chris Cantwell 
1st Continental Mortgage, Inc. 
5803 1st Ave Dr. NW 
Bradenton, FL 34209 
(941) 580-9060 office 
(941) 803-2827 fax 
http://www.my1stcontinentalonline.com 

Broker Resource Site: http://public.me.com/chriscantwell/ 

FHA in AL, CA, FL, LA, MD, MS, MO, NM, PA, SC &amp; TX. 

Licensed in Alabama, Florida, California, Louisiana, Maryland, Minnesota, Missouri, Mississippi, New Mexico, Pennsylvania, South Carolina, Texas.</description></item><item><title>Fantasy Land Mortgage... Up Again?!</title><link>http://forum.brokeroutpost.com/loans/forum/2/280621.htm</link><description>Everyone remember the site fantasylandmortgage.com?  What happened to it.  I came across this website by chance by typing the address is wrong on my browser and I got an actual website! Not bad seems like an upgrade from the original fantasylandmortgage website.  Either way glad its back up now I can tell my piece of ____ clients to go there and quit wasting time.  Check em out though http://www.fantasylandmortgages.com/blog.html[url][/url]

</description></item><item><title>Using Myers, Alamode or 220Marketing?</title><link>http://forum.brokeroutpost.com/loans/forum/2/280596.htm</link><description>&lt;font size="4"&gt;&lt;font color="blue"&gt;&lt;b&gt;Myers Internet, Alamode, 220Marketing and LenderHomePage Upgrade Special!&lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size4"&gt;

Are you currently using Myers Internet, LenderHomePage, Alamode or 220Marketing for your mortgage website provider? If so, weve got good news and better news.

First, LeadPress just launched monthly mortgage website plans, this means you can finally upgrade your existing site with an affordable monthly LeadPress plan! 

Second, if you switch to LeadPress from one of the providers above, were going to give you a FREE 30 day Trial. Not only do you get a free month to give LeadPress a shot, but you get a free chance to see how and why LeadPress is the premier mortgage lead generation website available today!

&lt;b&gt;Why Upgrade to LeadPress?&lt;/b&gt;

LeadPress not only gives improves the look and presentation of your website, simply put, it converts more visitors to leads!

Ever wonder why your existing website doesnt generate many leads? Were mortgage brokers ourselves and we were asking ourselves that very question three years ago when we set out to build the best mortgage lead generation website available.

&lt;font size="4"&gt;&lt;font color="blue"&gt;&lt;b&gt;Pricing &amp; Signup Info: www.leadpress.com/signup/&lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size4"&gt;

&lt;font size="3"&gt;&lt;font color="blue"&gt;&lt;b&gt;View Demo: www.leadpress2.com&lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size3"&gt;

&lt;font size="3"&gt;&lt;font color="blue"&gt;&lt;b&gt;Take the Tour: www.leadpress.com/benefits/&lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size3"&gt;


&lt;b&gt;Alternate home page styles:&lt;/b&gt; &lt;b&gt;1:&lt;/b&gt; [url]http://leadpress2.com/index-1[/url] &lt;b&gt;2:&lt;/b&gt; [url]http://leadpress2.com/index-2[/url] &lt;b&gt;3:&lt;/b&gt; [url]http://leadpress2.com/index-4[/url] 
You can also customie your site with Red, Mint and White color themes. 

&lt;font size="4"&gt;&lt;font color="blue"&gt;&lt;b&gt;Have Questions? Dont Hesitate! &lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size4"&gt;

&lt;font size="3"&gt;Trace - 888-622-4022&lt;/font id="size3"&gt;
&lt;font size="3"&gt;LeadPress.com &lt;/font id="size3"&gt;
&lt;font size="3"&gt;trace@leadpress.com &lt;/font id="size3"&gt;



</description></item><item><title>LeadPress Announces Monthly Pricing Plans!</title><link>http://forum.brokeroutpost.com/loans/forum/2/280476.htm</link><description>&lt;font size="4"&gt;&lt;font color="blue"&gt;&lt;b&gt;LeadPress Mortgage Websites Launches Monthly Pricing Plans!&lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size4"&gt;


&lt;font size="4"&gt;&lt;font color="blue"&gt;&lt;b&gt;Pricing &amp; Signup Info: www.leadpress.com/signup/&lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size4"&gt;

&lt;font size="3"&gt;&lt;font color="blue"&gt;&lt;b&gt;View Demo: www.leadpress2.com&lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size3"&gt;

&lt;font size="3"&gt;&lt;font color="blue"&gt;&lt;b&gt;Take the Tour: www.leadpress.com/benefits/&lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size3"&gt;


&lt;b&gt;Alternate home page styles:&lt;/b&gt; &lt;b&gt;1:&lt;/b&gt; [url]http://leadpress2.com/index-1[/url] &lt;b&gt;2:&lt;/b&gt; [url]http://leadpress2.com/index-2[/url] &lt;b&gt;3:&lt;/b&gt; [url]http://leadpress2.com/index-4[/url] 
You can also customie your site with Red, Mint and White color themes. 

Are you wondering why your current website generate leads? Does it have a Full 1003 application? Does it have a flash intro? Does it look unprofessional? Did you make it yourself? If you answered yes to any of these questions, its time to upgrade. Not only your website, but your professional image and online presence as well. You will convert more leads from your online and offline marketing with NO website as opposed to an uprofessional or outdated one.

As mortgage brokers ourselves, we were tired of paying money for tacky and outdated websites that didnt work. Realizing the central roles that websites play in offline and online lead conversion, we set out to build the premier mortgage lead generation website. The result is LeadPress.

&lt;font size="2"&gt;&lt;b&gt; LeadPress Gives You:&lt;/b&gt;&lt;/font id="size2"&gt;

&lt;b&gt;1)&lt;/b&gt; &lt;b&gt;Powerful customization and editing tools:&lt;/b&gt; Create pages or blog posts at will and then upload video or images with ease. Customize your website color, home page style, logo or change the links in the top navigation bar, footer or sidebar with a simple to use interface. Theres not much that is not customizable with LeadPress

&lt;b&gt;2)&lt;/b&gt; &lt;b&gt;Built in blog and commenting functionality:&lt;/b&gt; LeadPress is based in WordPress, the most powerful blogging platform available to day and used by CNN.com, NewYorkTimes.com and many others! This means you get RSS feeds, Social Media functionality in posts (via Twitter, Facebook and more), add users and assign them roles, etc. The blog enables you to easily create unique content that can rank high in google!

&lt;b&gt;3)&lt;/b&gt; &lt;b&gt;Built in SEO (search engine optimization tools):&lt;/b&gt; Full meta tag editing capability, XML Sitemaps, URL customization, tag pages, category pages, sitemap that is automatically updated with each new post or page, custom tag pages and much more.

&lt;b&gt;4)&lt;/b&gt;&lt;b&gt; Optimized Lead Generation Forms:&lt;/b&gt; Death to the 1003! Optimized and fully customizable forms not only mean your leads are emailed to you in real time and also stored in a buit in lead manager / database, you can also create new custom contact forms, applications, surveys and more!


&lt;font size="4"&gt;&lt;font color="blue"&gt;&lt;b&gt;Have Questions? Dont Hesitate! &lt;/b&gt;&lt;/font id="blue"&gt;&lt;/font id="size4"&gt;

&lt;font size="3"&gt;Trace - 888-622-4022&lt;/font id="size3"&gt;
&lt;font size="3"&gt;LeadPress.com &lt;/font id="size3"&gt;
&lt;font size="3"&gt;trace@leadpress.com &lt;/font id="size3"&gt;



&lt;b&gt;$250 Affiliate / Referral Fee&lt;/b&gt;

Know somebody that you think might be a good fit for LeadPress? Refer them to us and weï¿½ll pay you $250. Itï¿½s that simple!





</description></item><item><title>Allied Home Mortgage</title><link>http://forum.brokeroutpost.com/loans/forum/2/280474.htm</link><description>Allied Home Mortgage Capital Corporation.......anyone familiar with them?  They are advertising for loan officers in our city.</description></item><item><title>Outsourcing to India</title><link>http://forum.brokeroutpost.com/loans/forum/2/280247.htm</link><description>Hi All,

We are based of India we are into Mortgage Originations we work for different Mortgage Company

We take care of everything from Applications to Close including processing 

Please let me know if we can get your business

Thanks 
Mack
215-789-9095</description></item><item><title>2nds to 85% or 90% - Minnesota</title><link>http://forum.brokeroutpost.com/loans/forum/2/279872.htm</link><description>685 score
38% DTI

Anyone know someone doing 2nds to 85% or 90% with these kind of scores?

Thanks!!</description></item><item><title>This sides more fun</title><link>http://forum.brokeroutpost.com/loans/forum/2/279843.htm</link><description>Posted this on the MB side as well, but I like the personalities here better.

Anyone licensed in DE that can do an FHA streamline with no FICO requirement?

If so, let me know, its my personal loan.

I pulled an Ann Minch on Chase cause they tried screwing around with me, but the rest of my credit history (mortgage included) is 0X30.  Im in an FHA 3/1 ARM at 5% right now.  Looking to either go 30 yr fixed or 5/1 ARM.  


Anyone trying to help a brotha out?  E-mail or give me a call.  Thanks
</description></item><item><title>Refinance - FL - 53% LTV, 95% CLTV</title><link>http://forum.brokeroutpost.com/loans/forum/2/279743.htm</link><description>Any one have any suggestions?  They have other mortgages around the same amount so UW may have been confused.  Anyway, I have just found out the first mortgage which is not on the credit report (under a different name - father - he is deceased) and they have been late recently due to an escrow dispute.  DU did not ask for mortgage verif but now UW is.

Its with BOA and BOA wont speak to them b/c its not their name.  BOA told them to go late in the first place and then they would get help.  Now....they want to go to a 15 year fixed.  The current loan is at 9.50% - in existence since 1993.  

Is there anyone out there that might do this?</description></item><item><title>Free Purchase or Refinance Leads from Google!</title><link>http://forum.brokeroutpost.com/loans/forum/2/279600.htm</link><description>Louis from Top Mortgage Broker is revealing a simple formula you can start plugging into Google to drive customers looking to purchase or refinance their home. How to collect these targeted leads in your local area at no cost. 

View this segment and video tutorial by visiting the web page below. 

Visit: http://mtgbroker.freebizoffers.com/article-marketing.html

</description></item><item><title>Genworth relaxing guidelines</title><link>http://forum.brokeroutpost.com/loans/forum/2/279558.htm</link><description>We get so little good news in this industry lately so I thought I would post something positive ;)

To: All Flagstar Bank Wholesale Lending Customers
From: Wholesale Lending
Subject: MI Changes - Increased Eligibility
Date: 10/16/09
Memo #: 09221
SUBJECT AND EFFECTIVE DATE
Effective Friday, October 16, 2009, in response to Genworth expanding their guidelines, Flagstar is
pleased to announce increased eligibility on the Fannie Mae Fixed Rate (Doc. #5301), Freddie Mac
Fixed Rate (Doc. #5302), and Fannie Mae 3/1, 5/1, 7/1 and 10/1 LIBOR ARMs (Doc. #5331)
Programs.
FANNIE MAE FIXED RATE UPDATES
The following parameters will now be eligible:
 Up to 85% LTV 1-unit primary residence cash-out, with a 700 credit score. (Max cash-out
proceeds of $200,000)
 Up to 90% LTV second home purchase and rate/term with a 720 credit score.
FREDDIE MAC FIXED RATE UPDATE
The following parameter will now be eligible:
 Up to 85% second home purchase and rate/term refinance, with a 720 credit score.
FANNIE MAE 3/1, 5/1, 7/1 AND 10/1 LIBOR ARMS UPDATES
The following parameter will now be eligible:
 Up to 85% LTV 1-unit primary residence cash-out, with a 700 credit score. (Not eligible on
3/1 ARM) (Max cash-out proceeds of $200,000)
 Up to 90% LTV second home purchase and rate/term with a 720 credit score.
FURTHER RESTRICTIONS
The above mentioned changes have the following restrictions:
 Not eligible in the following states: Arizona, California, Florida, Michigan, or Nevada.
 Condos and attached housing are not eligible.
 Maximum loan amount of $417,000, regardless of location.
 Genworth is the only eligible mortgage insurance provider for any of the enhancements.</description></item><item><title>Live Mortgage Leads Network for Sale</title><link>http://forum.brokeroutpost.com/loans/forum/2/279517.htm</link><description>Hello!

We are internet marketing company and a long time ago we built a network of mortgage sites and core website to collect leads.

We offered service of affiliate network building for our clients (not just mortgage, but different), and used our small network as demo how it work.

After some time - our network started deliver a leads to us (and you may remember that I was looking for lender here on forum a several years ago for cheap exlusive leads).

Now we think we dont need anymore this network. We are not mortgage broker so we have no interest in selling leads (there are a few of them in system - just 3-10 mortgage leads daily). So we think to sell a full entire network to interested officer.

Network include:
10 existing mortgage sites promoted by SEO (sites work for 4 years) and connected to lead collection system (a website written with database that collect leads - it can even automatically forward leads to officers). Plus 2 auto loan sites (not connected to any lead system but promoted and working in last 3 years).

Network deliver a fresh leads daily from search engines. Now there is 3-8 leads daily.

Mortgage sites are bad credit related, some domains related to popular states - california, florida, new york, texas. So leads mostly nationwide.

Order include all code, database (with leads for past few years), domains moving and setup.

Price is $5,000 for all.

Please contact me if you are interested.

Thanks.

Dmitry</description></item><item><title>TRIGGER LEADS BLOWOUT SALE</title><link>http://forum.brokeroutpost.com/loans/forum/2/279479.htm</link><description>Due to increased volume our pricing is now ROCK BOTTOM on fresh trigger leads - straight from the credit bureau.

This is for forum members only and will not last long.  If you work with triggers, you will not find better prices.  These are not aged and right from the source.  If you want aged, call to discuss!

&lt;b&gt;500 - $.60
1000 - $.50
2500 - $.45
5000 - $.40&lt;/b&gt;

You must be able to take 25&#043; daily.  PLEASE MENTION BROKER OUTPOST WHEN CALLING!

Call 1-800-714-7264 or email sales@salesprospects.com

</description></item><item><title>Lender Versus Mortgage Broker</title><link>http://forum.brokeroutpost.com/loans/forum/2/279355.htm</link><description>This is just an opportunity for any Mortgage broker in AZ and CA to become part of a bank.  Imagine the same set up you have now, not having to disclose YSP, becoming a part of a bank, having all of your compliance handled for you and improving your own marketability. I have leads for you to work and a strong financial backing that will keep us succeeding through this tough industry.  We have several realtor relationships and a great business plan to help build your Realtor Partners and guarantee your long term success.  If you are not positioning yourself around a solid BANK today you will suffer tomorrow.  January 2010 will bring even more changes that will hinder the ability of the True Mortage Broker.  Individual LOs and companies are welcome.  We just took over a Local Mortgage broker in Scottsdale, AZ, Chattanooga, TN and Chicago, IL.  These mortgage brokers are instantly a bank and have the luxury of making more money now because we share in the SRP.  There are so many Brokers looing for outlets right now.  If you are not - you should.  With PHE or not - You should.

My Name is Matt Askland and Im the Southwest Regional manager for Peoples Home Equity, Inc. 

Cell: 602-751-9508 - Work: 480-759-1601

Email: maskland@peopleshomeequity.com

Website: www.mypheloan.com</description></item><item><title>Great News!!! One more reason for stocks to jump</title><link>http://forum.brokeroutpost.com/loans/forum/2/279183.htm</link><description>http://finance.yahoo.com/loans/article/107936/US-mortgage-backer-may-need-bailout?mod=loans-home

&lt;b&gt;One more reason for stocks to jump&lt;/b&gt; No not really but will it stop the disconnect between Wall Street and Main Street......... NOT A CHANCE IN HELL

Problems at the Federal Housing Administration, which guarantees mortgages with low down payments, are becoming so acute that some experts warn the agency might need a federal bailout</description></item><item><title>Lead Reviews on these places below</title><link>http://forum.brokeroutpost.com/loans/forum/2/279167.htm</link><description>and loanapp.com.  

There is not too much in the site search on these.  Any feedback of late?  

Thank you

</description></item><item><title>HI mortgage solicitor needed, get leads!</title><link>http://forum.brokeroutpost.com/loans/forum/2/279114.htm</link><description>Looking for a Hawaii licensed mortgage solicitor.  We can provide top tier leads including  lending tree long form as well as exclusive leads.  Great support and processing also...

Marc Gold 
Rockwell Financial</description></item><item><title>I need leads!!</title><link>http://forum.brokeroutpost.com/loans/forum/2/279060.htm</link><description>Im looking for leads in MN.  Purchase leads?  telemarketing leads? internet leads? 

We already do a bunch of mailing, so Im not looking for a mail comapny.  If you offer anything else. Im willing to look at your company. 

Thanks-
SC</description></item><item><title>HIGH% on 1st mortgage on  low cost rehab</title><link>http://forum.brokeroutpost.com/loans/forum/2/278954.htm</link><description>Another posting suggested seeking funding here so . . .
I have two 3b/1-2b SFRs in nice neighborhoods just outside of Detroit. Both properties have good ARVs of $100,000. I need $30,000 on each to fully rehab and put on the market as pretty houses. 

Ill pay better than market rates on interest and points on a 1st mortgage negotiable based on terms. Length to be 12 to 60 months.

Both I and my secure partner (has equity of $1,700,000) have FICOs of 700&#043; and enough monthly income to cover debt service easily($6,000&#043; net). Everything can be substantiated. Personal and business referrals Furnished upon request. Realtor and contractor referrals provided as well.

Heres the key - Ive been ripped of by paying cash up front for fees and almost got taken again by Hard Equity Financing until I found the posting here about them. I will agree to have all fees, points, etc. paid out of escrow funds at closing on the loan, but not until it is funded. This is the only secure way for both parties.

Dr. Ken Rich
seniordirector AT ihlpro DOT com</description></item><item><title>689 mid score</title><link>http://forum.brokeroutpost.com/loans/forum/2/278392.htm</link><description>I am trying to figure how far 2nds are going up to in cltv.</description></item><item><title>Can anybody do A NJ FHA Purchase with 564 score</title><link>http://forum.brokeroutpost.com/loans/forum/2/278109.htm</link><description>Looking for a NJ FHA lender who might entertain a NJ purchase with a 564 credit score. No mortgage lates, just some old paid collections and paid chargeoffs.

Its a good friend of mine looking to help her out

Thanks</description></item><item><title>Processing - Loan Mods, FHA, etc.</title><link>http://forum.brokeroutpost.com/loans/forum/2/278063.htm</link><description>
We Do....... Loan Modification, Purchase, FHA, and Refinance.

$500 for a first lien, and $200 for a 2nd lien.

Is your back end getting "bottle necked"?

We have a staff of Loan Mod processors who have been working for us since late 2007. I will match them up against anyone with experience and knowledge for these programs. In a market full inexperience, hire the best!

Originating new clients in this market is easy, the back end is your biggest obstacle, contact us today. (888)707-1003 x113

NM Processing performs contract mortgage processing services for mortgage brokers and lenders throughout the USA. Our team of mortgage processors are experienced in Loan Modification, Conventional, Subprime, VA and FHA loans. We take pride in personalized service, attention to detail, and great communication.

Whether you are a large mortgage broker who needs overflow support during high-volume periods, or a small mortgage broker that wants to reduce or eliminate the expense of an in-house loan processor, we can help you get your loans to closing quickly. Submit the full file, and NM Processing will do all communications with your clients bank.&lt;b&gt;&lt;/b&gt;</description></item><item><title>Lend without worry...Seeking LOs,Branch Mang</title><link>http://forum.brokeroutpost.com/loans/forum/2/278010.htm</link><description>A story in "Inside Mortgage Finance" from August 31st stated, "The Federal Housing Administration is not considering adopting the Home Valuation Code of Conduct appraisal system now in place at Fannie Mae and Freddie Mac. Coming from a recent meeting with FHA executives, top officials of the National Association of Mortgage Brokers said they were assured by FHA Commissioner Dave Stevens that the HVCC is not in the agencys plans." 


&lt;font color="red"&gt;Friday September 18th, however, the FHA Commissioner announced that after January 1, the FHA will require appraisals to be ordered via HVCC, and that instead of a net worth of $250,000 lenders must have a net worth of $1 million sometime in the next year.&lt;/font id="red"&gt; The FHA sent out a Mortgagee Letter to all lenders that they are adopting HVCC in most of its current form – the same one adopted by Fannie &amp; Freddie in May. Mortgage originators will no longer be able to order appraisals from appraisers, but instead use AMCs, which contributed to some of the popularity of FHA loans. Appraisers stand to make a little more, brokers will have less control, FHA appraisals will only be good for 4 months and not 6, and the FHA will allow appraisals to be transferred to another lender. Realtors can still give appraisers comparable sales data, but just not value: a fine distinction. In addition, the FHA said it may fall below its mandated capital level (2% reserves) for the first time in its history, but it will not require a taxpayer bailout, and that they will be hiring a chief risk officer. (Talk about a piece of cake job, right?)


Mini-eagle questions? “Lenders seeking approval to originate, underwrite, or service an FHA loan must meet the eligibility criteria for a supervised or non-supervised mortgagee. Mortgagees with this approval status must assume liability for all the loans they originate and/or underwrite. Loan Correspondents (mortgage brokers) will continue to be able to originate FHA-insured loans through their relationships with approved mortgagees; however they will no longer receive independent FHA approval for origination eligibility. Check it all out at: http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/HUDNo.09-177

Call or  email for more information.




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