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GSEs Look to Follow FHA’s Lead on Streamlined Refis

FHA Streamline Loan Requirements. You must own the original property for at least six months before you can qualify for refinancing. To refinance you’ll need an FHA-approved lender. If you don’t want to use your current lender, any bank you choose must be FHA approved. fha streamline loans do not require an appraisal,

Both CPI and Housing Starts flashed this morning. CPI showed the smallest year-over-year increase, ever. Here are the details from Reuters: 05:30 17Nov10 -U.S. OCT CPI +0.2 PCT (+0.2322; CONSENSUS.

FHA Guideline Change for MI Effective April 9 2012.mp4 Fishman Mortgage Corporation : News – eliminating the need for a new property appraisal where there is a reliable automated valuation model estimate provided by the GSEs; and; extending HARP’s end date through 2013 for loans originally sold to the GSEs on or before May 31, 2009. The timing of Phase II implementation will vary by lender, the FHFA said.

Now, you must follow up with the lender on a regular basis. The old saying, “The squeaky wheel gets the grease” has never been more true than when you are working with a servicer (bank) to close a short sale. Here are a few of the questions you must be asking when following the hreu short sale follow up plan.

streamline refinance program that includes a de minimis government guarantee on the loan paper? Either way the government will still be involved in some capacity. One of the biggest reason mortgage.

Look out for educational FAQs and video links as well. the MIP will be subject to increases ranging from 35 to 60 bps. Annual MIP and UFMIP for Streamline Refis endorsed on or before May 31, 2009.

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1. Requirements for Streamline Refinances, Continued 4155.1 6.C.1.c Appraisals on Streamline Refinances FHA does not require an appraisal on a streamline refinance. These transactions can be made with or without an appraisal. FHA does not require repairs to be completed on streamline refinances with appraisals, with the exception of lead-based paint repairs.

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For streamline refinance transactions WITH an appraisal, the CLTV is based on the new appraised value. TOTAL Scorecard Lenders should not use TOTAL on streamline refinance transactions. If a lender uses TOTAL, that loan must be underwritten and closed as a rate and term (no cash-out) refinance.

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