5 Major Changes in FHA Guidelines per New HUD Handbook 4000.1 September 14, 2015 Dear Friends – If you know of someone who may be getting into the housing market (or looking to refinance a land contract), and may be evaluating the FHA loan as a financing option, passing along these coming changes in FHA guidelines may be beneficial to them.
The FHA announced changes effective March 2nd, 2015 that will require credit and income criteria to be met. These changes could affect the average senior homeowner considering a reverse mortgage..
elimination of post-settlement interest for federal housing administration (fha) mortgages with an effective date of January 21, 2015. This rule revises FHA’s regulations that currently allow an FHA-approved mortgagee to charge the mortgagor interest through the end of the month in which the mortgage is being paid. The final rule allows mortgagees
FHA Mortgage Payoff Changes 2015!!! FHA currently receives the full month of interest when your loan is paid off no matter what day of that month it is paid in full and satisfied. So basically, if you pay your FHA mortgage off on July 15th, the mortgage company receives the same amount of interest for the month of July as it would have if you paid the loan in full on July 31st.
My next article will cover more changes between the existing handbook and the new handbook effective September 14, 2015. About The– As an op-ed writer, Glenn Michaels is a mortgage underwriting instructor for CampusUnderwriter ( www.MortgageUnderwriter.org ).
· Jan 12 2015, 10:42AM. The Federal Housing Administration (FHA) has issued a critical update related to last week’s announcement of FHA premium changes. The update contains instructions for lenders wishing to cancel case numbers for loans in process pursuant to mortgagee letter 2015-01.
· 188 counties loan limits rose from the 2015 Limit. WASHINGTON – The Federal Housing Administration (FHA) today announced the agency’s new schedule of loan limits for 2016. These loan limits are effective for case numbers assigned on or after January 1, 2016, and will remain in effect through the end of the year.
Fha Amortization Schedule With Mip
Federal Housing Administration Principal Deputy Assistant Secretary Ed Golding joined National Association of Realtors ® President Chris Polychron on stage Thursday before a packed ballroom of.