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FHA borrowers to save under Obama proposal

FHA borrowers to save under Obama proposal

President Obama last week proposed lowering insurance premiums on FHA-insured loans by 50 basis points, claiming this would save 250,000 borrowers an average of $900 annually in house payments. “The annual premiums on FHA loans, an especially popular source of financing for first-time home buyers, have increased five times since 2010,” according to an article in… Continue Reading FHA borrowers to save under Obama proposal

Condominiums losing value over FHA status

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Condominium associations that have discovered their Federal Housing Authority certifications are expired have scrambled to restore home values by re-applying for the status. Continue Reading Condominiums losing value over FHA status

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New FHA policy hampering condominium market

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Recent policy changes for the Federal Housing Authority’s condominium certification is causing problems for buyers, sellers and homeowners’ associations. And many don’t even know they’re in trouble yet. The Federal Housing Authority established a new policy in June that requires all condominium projects to reapply for FHA certification every two years. Since then, FHA certification… Continue Reading New FHA policy hampering condominium market

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FHA: Lenders can’t talk to appraisers

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The Federal Housing Administration will soon impose its own version of the Home Valuation Code of Conduct on its member mortgage lenders. HVCC legislation, passed last May, prohibits any discussion between mortgage company representatives and appraisers regarding home values. As a result, some appraisers are now forced to work through a middle man – appraisal… Continue Reading FHA: Lenders can’t talk to appraisers

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