FHA Spot Condo Process

Written by Michael A. Foote, CMB on . Posted in Uncategorized

FHA is doing away with the spot condo process…I am sure to allow for much more “streamlined” process, yeah right. Eitherway the good news is we can still consider unapproved condo projects for FHA financing.

In other news. Rates continue to trend down nicely – sparking a small increase in the amount of mortgage applications. Get yours in to make sure you are ready to lock when rates hit your mark.

In even more news. The 125% program announced by the Obama administration can only be originated/facilitated by the current servicer of your loan.

Got a short pay refinance???We can now offer these – certain restrictions apply.

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