Two New FHA Mortgagee Letters:
All-
Two New FHA Mortgagee Letters:
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000
ASSISTANT SECRETARY FOR HOUSING FEDERAL HOUSING COMMISSIONER
March 8, 2010
MORTGAGEE LETTER 2010-08
TO: ALL APPROVED MORTGAGEES
ALL FHA ROSTER APPRAISERS PREPARING REO APPRAISALS
SUBJECT: HUD REO Appraisal Validity Period and Second Appraisals
This Mortgagee Letter (ML) announces the validity period for appraisals utilized to establish the listing price on HUD’s Real Estate Owned (REO) properties. In addition, this Mortgagee Letter also announces conditions for which a second appraisal may be ordered for purchasers of REO properties utilizing FHA financing…
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000
ASSISTANT SECRETARY FOR HOUSING FEDERAL HOUSING COMMISSIONER
March 8, 2010
MORTGAGEE LETTER 2010-09
TO: ALL APPROVED MORTGAGEES
ATTENTION: SINGLE FAMILY SERVICING MANAGERS
SUBJECT: Tier Ranking Scores – Incentive Round 38
This Mortgagee Letter announces the FHA servicing lenders’ Tier Ranking Scores for Round 38. They were calculated using established criteria for HUD’s Tier Ranking System (TRS), based on activity during the Performance Period from October 1, 2008 through September 30, 2009. Tier Ranking Scores determine if a lender is eligible for additional incentives for calendar year 2010…
To read these mortgagee letters and any attachments in their entirety, please visit: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/ view the 2009 letters and click on the letter of your choice. Mortgagee Letters from previous years can be found on the same page.
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New FHA training and events around the nation:
New FHA Webinars: Register today to reserve your place, these webinars will fill up fast.
March 18, 2010 - Free Webinar: HUD's Loss Mitigation Program. The webinar will feature an overview of HUD's Loss Mitigation Program. Learn More About: Imminent Default, Forbearance Agreement, 90-Day Review & Program Requirements. 11:00AM - 12:00PM Pacific Time. Registration required, no fee. More info at: https://www2.gotomeeting.com/register/893489867
March 24, 2010 - Free Webinar: Underwriting the Appraisal Webinar. This FREE Webinar will provide an overview of determining property acceptability for FHA insured financing. Registrants must have internet access. 9:00AM to 11:00AM Mountain Time. Registration required, no fee. More info at: http://www.hud.gov/emarc/index.cfm?fuseaction=emar.addRegisterEvent&eventId=393&update=N
March 30, 2010 - FREE Webinar: Endorsement/Lender Insuring Webinar. Great overview for lenders who want to become an LI Lender or just a refresher for any current LI Lenders. Registrants must have internet access. 9:00AM to 11:00AM Mountain Time. Registration required, no fee. More info at: http://www.hud.gov/emarc/index.cfm?fuseaction=emar.addRegisterEvent&eventId=394&update=N
New dates added for Think FHA webinars from March through April available to C.A.R. members. One-hour sessions, from 10:00 to 11:00 a.m. PST, covering a variety of FHA programs and policies. Sponsored by HUD & the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Registration required and only available to C.A.R. members, no fee. For dates and more info visit: http://www.car.org/education/webinars/FHA/
Electronic Class (EClass) on FHA Loss Mitigation & Servicing System: The EClass System provides additional training on FHA's Loss Mitigation Programs, including FHA's Home Affordable Modification Program (FHA-HAMP), as well as continuing education on loss mitigation & servicing issues that have generated the most industry questions & requests for further training. The EClass System is designed to provide web-based training to HUD-Approved Servicers, HUD-Approved & Non Profit Housing Counseling Agencies. More info at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm
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FHA live training and events:
March 17, 2010 - Atlanta, GA. FHA Endorsement Training. Course covers endorsement processing guidelines from the initial case number assignment through issuance of mortgage insurance certificates (MIC); including examples & instructions for accessing FHA Connection, use of case query, ordering case numbers, ‘holds’ tracking, borrower validations, updating an existing case, insurance applications, N.O.R.s, MIC corrections, case transfers & case cancellations. Registration required, no fee. More info at: http://www.hud.gov/emarc/index.cfm?fuseaction=emar.addRegisterEvent&eventId=356&update=N
March 29, 2010 - Philadelphia, PA. FHA Update Seminar. FHA’s Philadelphia Homeownership Center is conducting a one-day seminar for lenders that covers upcoming & recent changes to FHA programs including: lender approval requirements, appraisals, flipping rule, MIP, streamline refinance loans, & more. The presentation will also include Neighborhood Watch & FHA’s lender monitoring. Registration required, no fee. More info at: http://www.hud.gov/emarc/index.cfm?fuseaction=emar.addRegisterEvent&eventId=400&update=N
March 30, 2010 - Denver, CO. The FHA Appraisal. Free one-day class for appraisers & lenders will discuss FHA appraisal requirements including FHA Appraisal Protocol, Mortgagee Letters, and the review of FHA property appraisals. Approved for seven (7) hours of Continuing Education Credit from the State of Colorado. Registration required, no fee. More info at: http://www.hud.gov/emarc/index.cfm?fuseaction=emar.addRegisterEvent&eventId=395&update=N
March 31, 2010 - Denver, CO. FREE one-day Underwriter Training topics to include: FHA Updates, Refinances, REO calculations, Maximum LTV calculations, Mortgage Insurance, Settlement costs (RESPA), TOTAL Scorecard, and a brief overview of Credit, Liabilities, Income, and Assets. 8:30AM to 4:30PM Mountain Time. Registration required, no fee. More info at: http://www.hud.gov/emarc/index.cfm?fuseaction=emar.registerEvent&eventId=401&update=N
April 20-22, 2010 - Philadelphia PA. National Reverse Mortgage Lenders Association 2010 Road show. Join us at this year's NRMLA Road show as we dig deeply into the information we all need to know & all need to share, whether you're a HECM originator, lender, business owner, counselor or service provider. Industry experts & senior staff from FHA's Philadelphia Homeownership Center will tackle key topics impacting your business. Registration required, fee. More info at: http://www.nrmlaonline.org/
May 3 - 7, 2010 - Phoenix, AZ. NeighborWorks Training Institute. Join your peers and field experts for over 90 courses in community development and affordable housing. Registration required, fee, Scholarships available for HUD-Approved housing counseling agencies. More info at: http://nw.org/network/training/upcoming/PHX_NTI10.asp
NeighborWorks also has Limited Tuition & Lodging Scholarships Available for their Place Based Training courses for HUD approved housing counselors. Place-based trainings are currently available for affordable housing, homeownership, foreclosure and stabilization-related topics. To apply for a scholarship to a sponsored place-based training, visit NeighborWorks calendar for dates, locations and info: http://www.nw5.org/training/
May 18-19, 2010 - Oklahoma City, OK. Early Delinquency Servicing & Loss Mitigation Program Training for HUD-Approved mortgagees, HUD-approved Housing Counselors & Nonprofit Housing Counselors. Registration required, no fee. More info at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm
August 24-25, 2010 - Oklahoma City, OK. Early Delinquency Servicing & Loss Mitigation Program Training for HUD-Approved mortgagees, HUD-approved Housing Counselors & Nonprofit Housing Counselors. Registration required, no fee. More info at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm
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FHA's Lender Insurance Program:
FHA's Lender Insurance Program (LI) enables high-performing lenders to endorse FHA mortgage loans for insurance without a pre-endorsement review by HUD. This expedited procedure is part of HUD's overall effort to make the processing of FHA loans easier and more cost-efficient so that lenders will be better able to offer FHA-insured loans and expand the availability of affordable financing for potential homebuyers. More information at: http://www.hud.gov/offices/hsg/sfh/lender/lendins.cfm
