In her new book, “Going Rogue,” Sarah Palin says she doesn’t like vegetarians. Palin says all vegetarians should go back to Vegetaria, where they came from.
Unlike Conan O’Brien, from whom that line came from, many investor bulletins are not concise. And I may have seen more releases from top investors of greater length, but I really don’t remember when. If you’re not interested, skip ahead. Alphabetically:
Affiliated, a lender (including correspondent division) out of South Dakota, is no longer accepting FHA 2008 products.
CitiMortgage told clients that their FHA fixed rate loans are now eligible to be originated as Higher Priced Mortgage Loans (as set forth in Regulation Z), provided all applicable FHA and Citi overlay guidelines and lending parameters are met. FHA ARMs, Hybrid ARMs and Streamlined Refinances are not permitted, nor are debt ratio exceptions. Also, after the 17th HUD “has issued a clarification to Mortgagee Letter #2009-32 regarding the use of TOTAL Scorecard on FHA Streamline loans with case numbers: “NO Credit Qualifying Streamline Refinance: Loan should not be run through TOTAL. However, if the loan is run through TOTAL the file must be underwritten and closed as a regular (non-streamline) rate and term (no cash out) refinance. And for “Credit Qualifying Streamline Refinance: Loan should be run through TOTAL via DU or LP.”