Big changes to FHA-January 1, 2010
1) The funding source of any FHA loan must have one million dollars in funds verified by FHA.
2) Brokers will no longer need to be individually certified by FHA to do FHA loans.
3) The streamline refinance as we know it today will no longer by available to borrowers.
Item number two concerns me. Opening the door to all brokers to do FHA does not sound like a good idea. I have been doing FHA and VA loans for a very long time. FHA and conventional mortgages are a world of difference and opening FHA to everyone scares me.
<A href="http://www.mortgageeauclaire.com">FHA</A>
FHA, VA, Jumbo and conventional lender Licensed in Wisconsin and Minnesota. Experienced in 203k Streamlines.
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