Comments on: Changing FHA Loan Limits http://www.fhaloanpros.com/2007/07/changing-fha-loan-limits/ The Unofficial Guide to FHA Loans & Mortgages Fri, 16 May 2008 03:16:32 +0000 http://wordpress.org/?v=2.0.5 by: Rob Aubrey http://www.fhaloanpros.com/2007/07/changing-fha-loan-limits/#comment-1134 Sun, 02 Dec 2007 06:03:07 +0000 http://www.fhaloanpros.com/2007/07/changing-fha-loan-limits/#comment-1134 Peter is by far more informed than I am on FHA loans. But I heard from a lender that I work with that in light of all that is going on in the lending world, that had momentum but has stalled and possibly cutting the three percent to one and a half. Again something I heard and not substantiated. Peter is by far more informed than I am on FHA loans. But I heard from a lender that I work with that in light of all that is going on in the lending world, that had momentum but has stalled and possibly cutting the three percent to one and a half.

Again something I heard and not substantiated.

]]> by: Bobby Christian http://www.fhaloanpros.com/2007/07/changing-fha-loan-limits/#comment-254 Mon, 24 Sep 2007 20:58:55 +0000 http://www.fhaloanpros.com/2007/07/changing-fha-loan-limits/#comment-254 Can you tell me if FHA is prepared to move the LTV to 100% if they decide to do away with Down Payment Assistance programs? Thank you! Bobby Christian Can you tell me if FHA is prepared to move the LTV to 100% if they decide to do away with Down Payment Assistance programs?

Thank you!

Bobby Christian

]]> by: Peter G. Miller http://www.fhaloanpros.com/2007/07/changing-fha-loan-limits/#comment-55 Mon, 23 Jul 2007 10:13:53 +0000 http://www.fhaloanpros.com/2007/07/changing-fha-loan-limits/#comment-55 Thanks for your note. Tell us more. For instance, do 90 lenders also support lower periodic and lifetime caps that the FHA program used to have? Are they concerned that the GAO estimates that under FHA reform 20 percent of those who now qualify for FHA financing would NOT be able to get a loan under the program? Are they bothered by the idea that under FHA reform 37 percent of current borrowers would pay higher insurance fees? Thanks for your note.

Tell us more.

For instance, do 90 lenders also support lower periodic and lifetime caps that the FHA program used to have?

Are they concerned that the GAO estimates that under FHA reform 20 percent of those who now qualify for FHA financing would NOT be able to get a loan under the program?

Are they bothered by the idea that under FHA reform 37 percent of current borrowers would pay higher insurance fees?

]]> by: Doug Lober http://www.fhaloanpros.com/2007/07/changing-fha-loan-limits/#comment-33 Wed, 18 Jul 2007 19:34:54 +0000 http://www.fhaloanpros.com/2007/07/changing-fha-loan-limits/#comment-33 Mortgage Lenders Form FHA Alliance Nearly 90 mortgage lenders have formed an alliance to support passage of legislation to "reinvigorate" the Federal Housing Administration so it can provide safe and affordable financing for homebuyers, as well as a lifeline for subprime borrowers who are in trouble. "We believe that a greater FHA presence in the mortgage market could have prevented the recent turmoil and that FHA is well-positioned to offer borrowers in trouble a simple and practical solution that will bring much-needed stability to local real estate markets," the FHA Alliance members say in a letter to leaders of the Senate Banking Committee. The House Financial Services Committee has approved a bill that raises the FHA single-family loan limits and allows the FHA to charge risk-based premiums and offer zero-downpayment loans. The Senate Banking Committee is scheduled to hold an FHA hearing on July 18. The formation of the alliance shows that lenders are "very interested" in the FHA reform legislation and view the changes as "very valuable to the housing finance system," said mortgage banking consultant Brian Chappelle. National companies such Bank of America, Countrywide Financial Corp., and SunTrust Mortgage, as well as regional companies such as Mortgage America, are alliance members. Mortgage Lenders Form FHA Alliance

Nearly 90 mortgage lenders have formed an alliance to support passage of legislation to “reinvigorate” the Federal Housing Administration so it can provide safe and affordable financing for homebuyers, as well as a lifeline for subprime borrowers who are in trouble. “We believe that a greater FHA presence in the mortgage market could have prevented the recent turmoil and that FHA is well-positioned to offer borrowers in trouble a simple and practical solution that will bring much-needed stability to local real estate markets,” the FHA Alliance members say in a letter to leaders of the Senate Banking Committee. The House Financial Services Committee has approved a bill that raises the FHA single-family loan limits and allows the FHA to charge risk-based premiums and offer zero-downpayment loans. The Senate Banking Committee is scheduled to hold an FHA hearing on July 18. The formation of the alliance shows that lenders are “very interested” in the FHA reform legislation and view the changes as “very valuable to the housing finance system,” said mortgage banking consultant Brian Chappelle. National companies such Bank of America, Countrywide Financial Corp., and SunTrust Mortgage, as well as regional companies such as Mortgage America, are alliance members.

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