We established our first mortgage underwriting guidelines web site in
has had great success. Our intent was to educate the consumer so
they wouldn't be taken advantage of by inexperienced lenders or loan
officers. To my surprise, it wasn't just buyers calling with
questions, it was underwriters and loan officers from all around the
world. And, I might add ... at all hours of the night and day.
I didn't realize that even some mortgage professionals do not have
anywhere to get advice or to research issues. There are a few places
on the net, but they have very high membership fees and the sites are
complicated and difficult to maneuver.
is available for the mortgage underwriter. It is far more detailed
and you must have a basic understanding of the guidelines for the
information to be useful to you.
In 2002 we also created a
For Sale By Owner web site. It's a wonderful site with lots of information that will help owners sell their
homes. The site is totally free for sellers to list their homes and they can
upload 4 pictures. Take a
look at our site. For Sale By
We developed this FHA specific web site because of the
dramatic changes going on in the mortgage industry today. The
Sub-prime fall out is causing people to turn to FHA loans in greater
number. FHA loans have always been a very good loan with low rates
but they can seem complicated.
are still adding and changing things so if you feel there are areas we
should include or give more detail to, please let us know. If you
see that we have made errors or that the guidelines have changed, please
let us know that too. We welcome your input and value your
opinion. Drop us an email.
are not associated with FHA or HUD. We do not sell mortgages or
originate mortgages. Our only intent is to help the consumer and
mortgage professional understand the guidelines.
mind that above all else, it is the lender and/or the lender's underwriter
that has ultimate authority and decision making power based on their
interpretation of the guidelines. Many lenders have internal
guidelines that hold the borrower to a higher standard. FHA or HUD
will not over ride the lender in those cases.