FHA News

Who is FHA? When and Why Did They Get Into Mortgage Insurance?

Written By: Joan Ewing 

Hello Everybody – Another week in the mortgage industry is here and I am sure everyone uses the acronym FHA quite a few times a week. However, do we really know anything about FHA, when they were created, why they were created and what they really do? Who is FHA?


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA Training : FHA’S Reverse Mortgages for Seniors – Part 1 of 2

Written By: Joan Ewing

Hello All – I am sure that once President Obama has had time to digest all his duties, there will be changes in the mortgage industry; however, until then everything is pretty much status quo.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA Training : FHA’S Reverse Mortgages for Seniors – Part 2 of 2

Written By: Joan Ewing 

Hello All – Last week I covered the basic guidelines for the HECMs (Home Equity Conversion Mortgage). As outlined the guidelines are very basic since there is no credit qualifying; and could make an excellent source of additional income for seniors on fixed income. However, there are many questions that seniors as well as their heirs need answered before deciding to commit to the HECM.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Fraud Schemes & Appraisal Issues

Written By: Jane Harford

In our 4th week of reviewing current trends in loan fraud, we will review the basic purposes of fraud schemes and general types of fraud. We will also appraisal basics that may be changed to reflect greater value or better comparables used to push property values higher than they really are. 


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Underwriting Training : Stick to Your Guns When You Think You are Right!

Written By: Jane Harford

I wanted to share a story that actually happened to me recently at a new job, I recently started. I am working for a large mortgage lender that is considered to be a solid company. They have been in business for a long time, have a conservative philosophy in their mortgage underwriting guidelines and have a successful mortgage origination business that does business nationwide. 


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Closing and Contract Fraud Schemes

Written By: Jane Harford

In our fifth and final chapter of how to wage and win a war on mortgage fraud, we will cover the review of a sales contract, what to look for and how to recognize any issues that may take place on the HUD1, closing papers and other documents. Reviewing these forms prior to closing and funding a loan will ensure a smooth and legally conducted closing transaction.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA News : FHA Well and Septic Guidelines Including Variances

Written By: Jane Harford

Now, the days are longer, spring is in the air and home sales are increasing due to lower interest rates, better housing prices and the fact that the homebuyer credit is going away at the end of this month, it is time to take a quick review at FHA’s well and septic guidelines, including Waivers on properties that do not meet the regulations.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA Training : How To Interpret Guideline Differences Based On Where You Work

Written By: Jane Harford

Recently, in our office there has been an ongoing difference of interpretations based on “guidelines” and how to implement them. It is a strong lesson in how each of us when underwriting must be able to use our own vast book of experiences, dig into our bag of tricks and come out with the answers that will be able to justify an answer on each loan that has been submitted to us as FHA DE Underwriters……some FHA loans are very easy to approve and the justifications are the same practical reasons that we use on most of our HUD LT’s. 


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHA Case Transfers and Appraisal Portability

Written By: Stacey Sprain

With all of the recently implemented FHA appraiser and appraisal changes, it can be somewhat confusing as to what detail and information you as a loan officer or processor may need to be aware of when it comes to new appraisal orders and appraisals received as the result of case transfers. 


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.