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Tag Archive
FHA launches short refi for underwater homeowners
FHA will offer the new FHA-insured mortgage to certain “underwater” non-FHA borrowers who are current on their existing mortgage and whose lenders agree to write off at least 10 percent of the unpaid principal balance of the first mortgage. »
HUD charges Bucks County property managers with housing discrimination
Pennsylvania property owners and their Bucks County management company were charged with housing discrimination by the U.S. Department of Housing and Urban Development (HUD) this week. »
Home warranty referral fees restricted under new RESPA rule
Fees paid to brokers/REALTORS® for “marketing” home warranties to sellers or buyers are illegal kickbacks or referrals and are prohibited under the Real Estate Settlement Procedures Act (RESPA), according to an announcement last week from the U.S. Department of Housing and Urban Development (HUD). The ruling took effect immediately. »
Recognize changes in new GFE and HUD-1
REALTORS® should now be working with the new Good Faith Estimate (GFE) and HUD-1 forms and they need to understand the changes to the two forms and how those changes can impact their buyers and them. »
HUD to ‘exercise restraint’ in new RESPA regulations
If you’re following the evolution of amendments to RESPA (Real Estate Settlement Procedures Act), you know that HUD's responses to industry, consumer and governmental requests to delay implementing these changes has been “no dice.” »
HUD stands firm: 2010 looks to be a go
All REALTORS® should know that there are going to be substantial changes in RESPA, and soon! HUD has drastically changed the Good Faith Estimate (“GFE”) that it requires all lenders of federally related, residential mortgages to prepare. »
Podcast: FHA mortgages may be best bet for homebuyers who qualify
REALTORS® and homebuyers are facing challenges during this economy. HUD officials discuss the different financial programs available for homebuyers and how REALTORS® can assist their clients. »
RESPA: GFE and HUD-1′s impact in 2010
Revisions to the Good Faith Estimate and the HUD-1 may actually make settlement smoother for buyers and their agents. »
HUD withdraws new ‘required use’ definition
Shaun Donovan, secretary of the Department of Housing and Urban Development (HUD), announced Tuesday at NAR’s Midyear Meetings in Washington that HUD has withdrawn the proposed “required use” definition in the Real Estate Settlement and Procedures Act (RESPA) overhaul. »
