« Home Insurance Hikes in Florida, AGAIN! | Main | Home Buyers Returning This Fall »
August 16, 2007
Why I Have Endorsed FHA
Having been an FHA lender I can attest it is a pain at times. FHA requires annual financial audits of the mortgage brokers financial condition and more. We always have survived the several day pain, and the expenses tied to it, but only FHA drags brokers through this. The actual banks that sponsor the mortgage broker go through even more red tape and grief. Loan officers have to know more rules. FHA doesn’t rely on the easy automated underwriting or the quick answer from a subprime lender. FHA restricts how the borrowers pay for certain expenses and how much the lender can charge.
|
Related Products: |
Read more from this blogger: |
Posted on August 16, 2007 10:44 AM by Mortga104.
Filed in Mortgage Calculator under mortgage brokers.
Permalink 
| Comments (1)
Comments
FHA does restrict the borrows who are tring to make the payments. It should be regulated.
Posted by: insurance rss feeds at September 4, 2007 10:57 AM
