Peter G. Miller
February 11th, 2008
Don walker asks “is this service an FHA information forum or your personal political blog. Please stick to the FHA information. We are smart enough to make our own political decisions.”
FHA mortgages inevitably involve political issues.
*On August 31st the President of the United States went read more
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Peter G. Miller
February 8th, 2008
The San Jose Mercury News reports that the stimulus package approved by Congress will increase the FHA mortgage limit in high cost areas for a single-family home to $729,750 from the current $362,790.
In effect, the FHA loan limit and the conventional loan limit – which read more
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Peter G. Miller
February 7th, 2008
Speaking before the Senate Banking, Housing and Urban Affairs Committee, James Lockhart, Director of the Office of Federal Housing Enterprise Oversight(OFHEO) explained in 20 detailed pages why raising conventional loan limits might adversely impact lending in general and the FHA mortgage program in particular. ( read more
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Peter G. Miller
February 6th, 2008
Eleanor Thorne says the President took changes for FHA mortgages out of the stimulus package.
However, she likes the idea of the stimulus package and says “FHA Reform is necessary for tens of thousands of Americans who no longer qualify for Conventional Financing, and who are interested read more
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Peter G. Miller
February 5th, 2008
HUD has a new approach to FHA mortgage numbers: Misdirection.
According to HUD’s 2009 budget summary, “in August 2007, the Bush Administration introduced FHASecure as a refinance option for subprime borrowers who have good credit histories but cannot afford their current payments. While still read more
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Peter G. Miller
February 4th, 2008
The Federal Reserve is out with a survey of lender opinions, and when it comes to rescuing distressed borrowers the most viable option is an FHA mortgage.
According to the latest Senior Loan Officer Opinion Survey on Bank Lending Practices, “significant numbers of domestic read more
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Peter G. Miller
February 3rd, 2008
FHASecure has been in the news recently. Judge for yourself if this new-fangled FHA loan program is being fully and fairly described.
First, testifying on Capitol Hill, Under Secretary for Domestic Finance Robert K. Steel appearing before the Senate Committee on Banking, Housing and Urban Affairs to discuss “Foreclosure Prevention and Neighborhood Preservation” read more
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Peter G. Miller
February 1st, 2008
The FHA loan program continues to grow while much of the mortgage marketplace withers.
For the first 15 days of January FHA mortgages applications continued to grow. HUD says in its FHA Outlook report that “after seasonal adjustment, the annual rate for applications was 1,485,000 — 20.5 percent above the prior period — and a continuation read more
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