Comments on: FHA Rules Changing Faster Then I Change My Underwear http://www.biggerpockets.com/renewsblog/2010/03/18/fha-rules-changing-faster-then-i-change-my-underwear/ Learn, Network, Invest Sat, 11 Feb 2012 20:37:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Craig Grellahttp://www.biggerpockets.com/renewsblog/2010/03/18/fha-rules-changing-faster-then-i-change-my-underwear/#comment-80400 Craig Grella Tue, 23 Mar 2010 14:36:47 +0000 http://www.biggerpockets.com/renewsblog/?p=11856#comment-80400 Good note Peter. Funny title, too. It does seem that many of the government standards have been changing faster than we can keep up.The FHA rule changes have been heavily debated over the past few months, and speculation about costs and underwriting has been running rampant among brokers and FHA approved lenders we've been dealing with. In fact, there is so much confusion out there we've resorted to dealing directly with FHA reps in getting answers for our clients' many questions about guidelines. Unfortunately, FHA reps won't comment on proposed rules, they only site specific mortgage letters and point you to areas of their website that deal with current rules only.I think some of the <a href="http://blog.lendingtree.com/2010/01/government-raising-borrowing-costs-for-fha-insured-loans/" rel="nofollow">FHA rule changes already made</a>, will help FHA get more in line with current conventional underwriting. While the credit requirements were widely printed and alluded to by HUD secretary, I was hard pressed to find any mortgage letter info on FHA's website.Confusing indeed. Good note Peter. Funny title, too. It does seem that many of the government standards have been changing faster than we can keep up.

The FHA rule changes have been heavily debated over the past few months, and speculation about costs and underwriting has been running rampant among brokers and FHA approved lenders we’ve been dealing with. In fact, there is so much confusion out there we’ve resorted to dealing directly with FHA reps in getting answers for our clients’ many questions about guidelines. Unfortunately, FHA reps won’t comment on proposed rules, they only site specific mortgage letters and point you to areas of their website that deal with current rules only.

I think some of the FHA rule changes already made, will help FHA get more in line with current conventional underwriting. While the credit requirements were widely printed and alluded to by HUD secretary, I was hard pressed to find any mortgage letter info on FHA’s website.

Confusing indeed.

]]> By: The Weekly Poll: What type of financing did you use to buy your home? | All Around KTownhttp://www.biggerpockets.com/renewsblog/2010/03/18/fha-rules-changing-faster-then-i-change-my-underwear/#comment-80356 The Weekly Poll: What type of financing did you use to buy your home? | All Around KTown Sun, 21 Mar 2010 20:36:35 +0000 http://www.biggerpockets.com/renewsblog/?p=11856#comment-80356 [...] it looks like there’s about to be some stricter guidelines on the FHA front as well, and some say that those changes (higher minimum down payment, fewer seller paid concessions, higher up front [...] [...] it looks like there’s about to be some stricter guidelines on the FHA front as well, and some say that those changes (higher minimum down payment, fewer seller paid concessions, higher up front [...]

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