Effective January 1, 2009 there are a few changes to the FHA loan program that are important to be aware of. According to HUD's mortgagee letters 2008-40 and 2009-09, the following changes are happening: New FHA Loan Limits The FHA loan limit has decreased in Arizona, here is a list of all FHA loan limits by county in the US. All purchases and refinances (including the FHA streamline … [Read more...]
FHA Conference Call Regarding HR3221
I just received an email from the Risk Manager at our company and he was part of a conference call today with FHA regarding HR3221. Here is a rundown of the biggest issues raised on the call today with some of the answers to questions people are having. To quote our Risk Manager "...Expect numerous Mortgagee Letters as these are implemented..." More to come -- and beware -- the below … [Read more...]