Rate Sensitive Borrowers Are Causing Rate Lock Volume To Jump 43%. Are Borrowers About To Go Into Panic Mode? Rate lock volume jumped 43% in March. Some experts say this is due to market conditions. Lock volumes increased across the board. This was led by purchase locks jumping 44% in March. This was above the […]
Lenders Have Until September 5th To Comply With New FHA Guidelines Ignoring COVID-Era Employment Lapses New FHA guidelines loosen the requirements to qualify for a loan if they lost work during the pandemic. Beginning September 5th, lenders are to ignore job gaps during the Covid-19 pandemic. The Federal Housing Administration (FHA) announced new flexibility for […]
The Government Shutdown Halts Reverse Mortgage Funding Because Lenders Can’t Get FHA Endorsements President Trump’s government shutdown is approaching the two-week mark. It has now brought the reverse mortgage sector to screeching halt. The government shutdown has HUD is working with a skeleton crew. That means FHA cannot underwrite or endorse reverse mortgages or any FHA products. […]
The FHA Wall was the U.S. Government’s Version Of Apartheid Growing up in the white Detroit suburbs in the 1970s and 1980s, I had never heard of theFHA mandated Birwood Wall until I was in mortgage lending about ten years ago. Up until then. I just thought of it as just a wall. Like many […]
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