Archive for June 2012

HUD-FHA has new career opportunities for qualified individuals

June 29, 2012

Recently posted online are the positions of:

Management Information Specialist, Office of Housing Counseling, Vacancy announcement: H12-DE-679838-HUD-JN, (Washington, DC)

Business Analyst,  Single Family Office of Housing, Homeownership Center (HOC), Vacancy announcement: H12-DE-680112-SML, (Denver, CO)

 These Vacancy Announcements are posted at 

Please visit that website to view the announcements, additional information and to search for additional new HUD job listings.  HUD-FHA also has job opportunities in other locations around the nation.  Please bookmark and revisit  frequently to see the new jobs as they appear online.

Application forms can be found at:


New FHA Webinar for Lenders on Frequently Asked Questions and Hot Topics

June 29, 2012  

July 18, 2012 – Webinar: FHA FAQs and Hot Topics. This FREE Webinar training will provide clarification to current hot topics and frequently asked questions (FAQs) in today’s FHA lending environment. Covered topics will include: Credit Scenarios, Occupancy and Refinance transactions as well as most recent Mortgagee Letters. Registration required, no fee. Registration at:

Please hold on to the e-mail you receive after you register. Please hold on to the e-mail you receive after you register, you will need it to access the webinarThis webinar will be archived.

Questions – E-mail:

How To Buy A Condo, Confidently!

June 28, 2012


Condo prices are so depressed you may be able to afford a home that was far beyond your means before the recession.


Luxurious properties in the heart of the city, or overlooking the ocean, fairway or mountain, cost hundreds of thousands of dollars less than they did just a few years ago.


But buying the right condo means you have to do more than choose a good location and pay the right price.


Your fortunes and living space are intimately linked with those of the other owners and the homeowners’ association.


You also have to take into account homeowners’ fees, additional assessments and the overall financial health of the condominium complex.


These five smart moves can help you choose the right condo with confidence.

Do you qualify for a mortgage refi?

June 27, 2012 

A new tool helps homeowners determine if they would qualify to refinance their mortgage under a proposed plan.

Last year when I purchased my new home I was excited to see that I would only be paying 4.875 percent interest on a 30-year fixed-rate mortgage loan. Since that time interest rates have continued to drop and last month I was able to refinance my mortgage at 3.75 percent on a 30-year fixed-rate note.
Unfortunately, not everyone is in a position to refinance their mortgage and possibly save hundreds of dollars per month on the house payment. A lower interest rate not only reduces your monthly payment but if you’re one of the millions of Americans that is underwater on your house, then a lower interest rate can also help you get right side up more quickly. The faster the housing market recovers, the faster the overall economy recovers.
The good news is that President Obama has proposed a new plan that will open up the mortgage refinance market to more homeowners. The Obama administration has created an interactive tool that can help you determine whether the President’s new plan, if implemented, would allow you to take advantage of today’s record lower interest rates.

US new-home sales rose at fastest pace in 2 years

June 27, 2012


Americans bought new homes in May at the fastest pace in more than two years, adding to evidence of a slow housing recovery.

The Commerce Department says sales of new homes increased 7.6 percent in May from April to a seasonally adjusted annual rate of 369,000 homes. That’s the best pace since April 2010, the last month that buyers could qualify for a federal home-buying tax credit.

New Mortgage Letter 2012 – 12: Responsibilities of Mortgagees in Regard to State and Local Laws

June 23, 2012  

Mortgagees must adhere to state and local laws while they hold title to a property that was financed with an FHA-insured mortgage. HUD will reimburse mortgagees in accordance with the guidance issued in Mortgagee Letter 2010-18.

Mortgagees must continue to promptly notify the MCM of receipt of code violations and demolition notices from state and local governments and seek MCM approval before demolishing or permitting demolition of a property.

New Mortgage Letter 2012 – 11: Clarification Regarding Title Approval at Conveyance

June 23, 2012 

 The policies set forth in this Mortgagee Letter supersede those portions of Mortgagee Letter 2002-19, Clarification Regarding Title Approval Issues, Property Condition at Conveyance, Administrative Offsets and a New Process for Lender Appeal of Conveyance Issues, regarding unpaid taxes, condominium/HOA fees, unpaid utility bill, and manufactured housing home title issues. All other requirements of Mortgagee Letter 2002-19 remain in effect.