FHA “anti-flipping”regulations prohibit lenders making an FHA loan on a home that the seller has owned for less than 90 days. However,in 2010 this regulation was waived temporarily through January 31,2011 by FHA in an effort to help the housing market conditions. Subsequently,that waiver was extended through the end of 2011. Now,FHA has extended this waiver through the end of 2012. [...]
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 | “FHA still could serve 95 percent of its historic targeted market even if the maximum FHA loan limits were reduced by nearly 50 percent.” Last week,George Washington University released a report,“FHA Assessment Report:The Role and Reform of the Federal Housing Administration in a Recovering U. S. Housing Market,”in which it [...] Yesterday my wife received a letter from the condo association for a complex she owns a rental in with “OWNER ALERT!!!!!!!”(yes,that many exclamation points) at the top of it in big letters. The reason for the “alert”was to let condo owners know that FHA certification for this condominium complex expired December 31,[...] The Federal Housing Administration (FHA) announced the temporary waiver of the “anti-flipping”rule has been extended through December 31,2011. In my opinion the “anti-flipping”rule was a bad idea to start with and in the current housing market the last thing we need is anything to discourage investors from buying homes so this is [...] New regulations signed into law by the President allow HUD to increase the amount of premiums charged for FHA single family housing mortgage insurance programs,however lower that actual up-front cost paid by borrowers. [...] Dennis Norman UPDATE June 21,2010- I said I would update this post after the proposed rules were published on the Federal Register with info on how to submit a comment -If you would like to comment,see the comment instructions in the Federal Register (I highlighted them) by clicking here -end of update. [...] Dennis Norman Yesterday the U.S. House of Representatives passed H.R. 5072,the FHA Reform Act of 2010 which is good news for home-buyers that may need to rely upon an FHA loan for a home purchase. The bill will still need to be passed by the Senate and then signed into law by the [...] Dennis Norman Back in January I did a post about FHA’s decision to temporarily (until February 1,2011 if not revoked earlier) waive their “anti-flipping”rule,thereby allowing homes to be resold with FHA-insured financing even if the sale took place within 90 days of the selling acquiring the property. There were,of course,[...] Dennis Norman FHA Announces Policy Changes to Address Risk and Strengthen Finances This week FHA announced policy changes that are going to help them shore up their finances but will make it more difficult and/or costly for buyers to purchase your homes. The FHA policy changes include:[...] Dennis Norman In an effort to “stabilize home values and improve conditions in communities where foreclosure activity is high”FHA just announced a temporary waiver of requirements of 24 CFR 203.37a(b)(2). For those of you that don’t have your copy of the Code of Federal Regulations handy,this is referring to what is generally [...] According to NAR 51 percent of recent homebuyers are first-time buyers and 39 percent of recent home sales have relied on an FHA loan Dennis Norman The National Association of REALTORS just released a report showing that 51 percent of the homes sold recently have been to first-time home buyers and that 39 percent of [...] By:Dennis Norman Congressman Al Green (D-Texas) In the past many investors that “flip”houses utilized a down-payment assistance plan as a means to help a buyer that was obtaining FHA financing purchase a home from them. This was accomplished through a not-for profit organization that would work with and counsel the buyer and then [...] | ||||
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