The SCIF will be required for loan applications dated on or after Aug. 28.
The post FHA Requires Lenders to Start Using SCIF appeared first on Weekly Real Estate News.
FHA Requires Lenders to Start Using SCIF
Mortage News
FHA Announces Lower Mortgage Insurance Premiums
Earlier this morning, HUD released details of a long-anticipated plan to reduce the annual MIP (mortgage insurance premiums) that are currently charged to FHA borrowers by 30 Basis Points (0.3% of the loan balance). HUD […]
Housing Wire
Open Mortgage has FHA direct endorsement authority terminated in Iowa
The U.S. Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. “HUD placed Open Mortgage on credit watch for the Des […]
Housing Wire
FHA publishes final rule on the 40-year loan modification
The Federal Housing Administration (FHA) announced this week that a final rule related to an increased 40-year loan modification term has been published in the Federal Register. The rule allows mortgagees to increase the maximum […]