Peter G. Miller
July 10th, 2007
Forbes magazine — that pillar of capitalism — has come out with a rave review for the FHA.
And what is it that makes the FHA program so great? According to Mortgage Lending’s Benevolent Bureaucracy, “both taxpayers and borrowers should now be grateful read more
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Peter G. Miller
July 9th, 2007
While much of the mortgage market is in shatters, the FHA program is booming.
Figures for the first half of June show amazing growth:
*Seasonally adjusted, the annual rate for applications was 867,500 — a 12.4 percent jump from the prior period and the best rate since March 15, 2000 — that’s 7 years ago.
*Actual applications received totaled 39,965 — 10.1 read more
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Peter G. Miller
July 6th, 2007
A really good reason to reform the FHA program would be to lower insurance claims to assure that the system is self-supporting.
A new report from the Government Accountability Office (GAO) shows that if FHA reforms are passed then costs to Uncle Sam would decline significantly. As taxpayers we want a program that is self-sustaining read more
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Peter G. Miller
July 5th, 2007
There’s been a lot of agitation in favor of FHA reform, basically steps such as zero-down loan programs which supporters say will make the program more competitive.
One important idea under FHA reform is to change the insurance system from the current plan — where everyone pays the same fee, 1.5 percent up front plus .5 percent read more
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Peter G. Miller
July 3rd, 2007
The big buzz in the world of real estate financing are the just-issued new loan guidelines by federal regulators.
This is important stuff because it will impact the ability of millions of people to finance and refinance their homes.
The new guidelines, entitled Statement read more
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Peter G. Miller
July 2nd, 2007
The FHA does not consider credit scores when evaluating loan applications, however the FHA does consider credit.
This means that it’s important to get credit right — if you are victimized by a credit scam you could lose an opportunity to get an FHA mortgage or perhaps be required to pay more interest that you read more
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