Comments on: HUD Brings Back The Swat Team http://www.fhaloanpros.com/2009/04/hud-brings-back-the-swat-team/ The Unofficial Guide to FHA Loans & Mortgages Sat, 21 Nov 2009 06:38:24 +0000 http://wordpress.org/?v=2.6 By: Chandler Real Estate http://www.fhaloanpros.com/2009/04/hud-brings-back-the-swat-team/#comment-47707 Chandler Real Estate Tue, 14 Apr 2009 05:44:04 +0000 http://www.fhaloanpros.com/?p=979#comment-47707 We are seeing more of an approach in the marketplace and government entities to follow-up to see how processes and programs are actually functioning. This is something that seemed lost on so many entities in the past and in my opinion, is a critical ingredient to developing a healthy marketplace. I like the idea of FHA being proactive to check on lenders in this regard. To not do this, I believe, would add a level of risk to the FHA portfolio over time. Regulation or deregulation - there appears to be a healthy dose of regulation with some sense of restraint in the marketplace. Thanks for talking to the FHA SWAT in this regard. David Lorti We are seeing more of an approach in the marketplace and government entities to follow-up to see how processes and programs are actually functioning. This is something that seemed lost on so many entities in the past and in my opinion, is a critical ingredient to developing a healthy marketplace.

I like the idea of FHA being proactive to check on lenders in this regard. To not do this, I believe, would add a level of risk to the FHA portfolio over time.

Regulation or deregulation - there appears to be a healthy dose of regulation with some sense of restraint in the marketplace.

Thanks for talking to the FHA SWAT in this regard.
David Lorti

]]> By: Steve Donlin http://www.fhaloanpros.com/2009/04/hud-brings-back-the-swat-team/#comment-47680 Steve Donlin Mon, 13 Apr 2009 19:58:56 +0000 http://www.fhaloanpros.com/?p=979#comment-47680 "For every action, there is an equal, but opposite reaction." While I abhor government sticking its bulbous nose into private enterprise, this last 3-4 years proves a public policy statement is in order. As FHA becomes the newest source of mortgage money for Americans, there must be a reasonable amount of oversight by the Feds. The "big" points 1, 2, & 4 listed in the article are just part of a prudent lending practice. No problem here. #3 Advertising, will be a monstrous beast to corral, maybe not worth the Fed creating an "Advertising Police" division. #5 Fees; is where the Fed should stay out of the picture. Reg Z and Section 32 are already on the books. Just enforce those, don't create more rules. I completely agree with HUD's policy to terminate a mortgagee's approval if they repeatedly violate policies. The Golden Rule of Money applies here. "Those with the gold, make the rules." “For every action, there is an equal, but opposite reaction.”

While I abhor government sticking its bulbous nose into private enterprise, this last 3-4 years proves a public policy statement is in order.

As FHA becomes the newest source of mortgage money for Americans, there must be a reasonable amount of oversight by the Feds. The “big” points 1, 2, & 4 listed in the article are just part of a prudent lending practice. No problem here.

#3 Advertising, will be a monstrous beast to corral, maybe not worth the Fed creating an “Advertising Police” division.

#5 Fees; is where the Fed should stay out of the picture. Reg Z and Section 32 are already on the books. Just enforce those, don’t create more rules.

I completely agree with HUD’s policy to terminate a mortgagee’s approval if they repeatedly violate policies.

The Golden Rule of Money applies here. “Those with the gold, make the rules.”

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