FHA Lending Standards On The Rise? (CNBC Video)

Real Estate Coaching & Market News

This site is frequently updated with lots of fresh content. Our “Featured” articles can be found here…

Technology

Real Estate Tech Marketing Tips, Product Recommendations, Screencasts and More. (NEW FEATURE)

Testimonials

Students talk about the Results they’re getting from Harris Real Estate University’s programs. — In their own Words!

Superstar Interviews

Audio Interviews with some of the Real Estate Industry’s biggest starts and top performers. Lots of Fun!

Tim & Julie Present

This archive of audio recordings with Tim and Julie cover a wide range of topics such as “Managing the Daily Stress of Your Business.”

Submitted by Tim Harris on October 13, 2009 – 8:01 amOne Comment | Popularity: 1% [?]

Must watch new interview with the commissioner of the FHA…
A few of the highlights of this video interview:
1) FHA is not going broke. (how can it when it always go to Congress for more money)
2) They are ‘reviewing’ lending requirements…credit scoring etc.
3) FHA mortgages are now 30% of the mortgage market. That makes the FHA the largest home lender…by far.
4) FHA is hiring a new ‘Risk Officer’…translated, they are bringing on a new guy to evaluate the risk factors in their lending standards. This is the guy who will carry the weight of having to raise lending standards.

Here is the video….Remember, the THURSDAY we are providing a FREE How-To List REOs teleseminar. HERE IS THE INFO YOU NEED TO ATTEND THE CALL.

Popularity: 1% [?]

One Comment »

Linda says:

October 14, 2009 at 2:12 pm

Well, I was wondering if the FHA’s credit score minimum requirement had been increased. Now we’ve heard it straight from the FHA Commissioner’s mouth — their 2009 average borrower’s credit score was 690 way up from 630. It is wise for FHA to keep this big increase of 60 points.

I wonder if lenders are still splitting a closing costs 1% or more “origination fee” with FHA? I think that’s unfair, even if it can be “rolled into” the loan.