New FHA Mortgagee Letter

This is the HUD national homeownership center reference guide mailing list for real estate industry professionals that are interested in updates to HUD Mortgagee letters, notices and guidebooks, & FHA Housing Industry Training. Please visit our homepage at: http://www.hud.gov/offices/hsg/sfh/hsgsingle.cfm Servicing lenders can visit HUD's National Servicing Center at: http://www.hud.gov/offices/hsg/sfh/nsc/nschome.cfm This list does not provide HudHome property listings.
All-
New Mortgagee Letter:
April 9, 2009

MORTGAGEE LETTER 2009-14
TO: ALL APPROVED MORTGAGEES
SUBJECT: Online Versions of Handbooks 4155.1, Mortgage Credit Analysis for Mortgage Insurance; and 4155.2, Lenders’ Guide to Single
Family Mortgage Insurance Processing
The purpose of this Mortgagee Letter (ML) is to announce the new online HUD Handbooks 4155.1, Mortgage Credit Analysis for Mortgage Insurance; and 4155.2, Lender’s Guide to Single Family Mortgage Insurance Processing. The online Handbook 4155.1 replaces Handbook 4155.1 REV-5, Mortgage Credit Analysis for Mortgage Insurance, One to Four Family Properties. The online Handbook 4155.2 replaces three handbooks 4000.2 REV-3, Mortgagees' Handbook, Application through Insurance; 4000.4 REV-1, Single Family Direct Endorsement Program; and 4165.1 REV-2, Endorsement for Insurance for Home Mortgage Programs (Single Family). A link to the Handbooks can be found on the fha.gov and HUD.gov websites…. .
To read this mortgagee letter and any attachments in their entirety, please visit: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/ view the 2009 letters and click on the letter of your choice. Mortgagee Letters from previous years can be found on the same page.
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Bulk subscriptions:

Some industry folks have asked, "How do I sign up my entire staff for FHA email updates?" It is easy... Just list your staff email addresses like this:

aaa@xyz.com
bbb@xyz.com
ccc@xyz.com

You can send in one email address or thousands. Email your list to: jerrold.h.mayer@hud.gov

If you have a mortgage or real estate industry friend who you want to subscribe to the national hoc reference guide mailing list, there are 3 other ways to sign up: 1. send them this link: http://www.hud.gov/offices/hsg/sfh/ref/hsgregst.cfm they can sign up for the email list there; or 2: forward them this email; or 3: Visit: http://www.usa.gov/ and subscribe at: http://apps.gsa.gov/FirstGovCommonSubscriptionService.php

To unsubscribe - go to: http://www.hud.gov/subscribe/index.cfm and click on "National Homeownership Center Reference Guide" and follow the unsubscribe instructions on that page.
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This is the FHA Single Family Housing listserv for real estate industry professionals that are interested in updates to Mortgagee letters, Notices, Guidebooks, Housing Counseling, FHA Reference Guide, Mortgage Limits, Career Opportunities, Grants, Contracting Opportunities & Housing Industry Training. Please visit us at: http://www.hud.gov/offices/hsg/sfh/hsgsingle.cfm or visit our new homepage at: http://www.fha.gov

You can find a directory of states that are serviced by the four FHA Homeownership Centers (HOC) on the web at: http://www.hud.gov/offices/hsg/sfh/hoc/hsghocs.cfm

Servicing lenders can visit FHA's National Servicing Center on-line at: http://www.hud.gov/offices/hsg/sfh/nsc/nschome.cfm

For FHA technical support, please contact the FHA Resource Center: http://www.fhaoutreach.gov/FHAFAQ/ Search our online knowledge base and find answers to our most commonly asked questions. Use "live help" to get on-line technical support. You can also get email technical support at: info@fhaoutreach.com or phone FHA toll-free between 8:00 a.m. and 8:00 p.m. ET (5:00 a.m. to 5:00 p.m. PT) at: (800) CALLFHA or (800) 225-5342. Call FHA TDD at: (877) TDD-2HUD (877) 833-2483).

To find the FHA S/F Reference Guide on-line please visit: http://www.hud.gov/offices/hsg/sfh/ref/hsgrcont.cfm

Find out about FHA training by visiting our Events and Training calendar at: http://www.hud.gov/offices/hsg/sfh/events/events.cfm

Do you want to find out about current HUD Contracting Opportunities? To obtain a listing of the current opportunities please visit: http://www.hud.gov/offices/cpo/index.cfm

Do you want to find out about career opportunities at HUD? Visit: http://www.usajobs.opm.gov/ Please see the HUD section at: http://jobsearch.usajobs.opm.gov/a9hud.asp Application forms can be found at: http://www.usajobs.opm.gov/forms.asp

Find out about grant opportunities by visiting HUD's Funds Available website at: http://www.hud.gov/offices/adm/grants/fundsavail.cfm

For all FHA publications visit HudClips at http://www.hud.gov/offices/adm/hudclips/index.cfm You can order hardcopies at: http://www.hud.gov/offices/adm/dds/index.cfm

Do you need to find a FHA form? You can also find all FHA forms on the HUDClips website at: http://www.hud.gov/offices/adm/hudclips/forms/

For information on Presidentially Declared Disaster areas and to learn how HUD can help, please see: http://www.hud.gov/offices/hsg/sfh/nsc/disaster.cfm or contact the National Servicing Center in Oklahoma City, 1-888-297-8685.

This list does not provide HudHome property listings. To see the latest list of all HudHomes nationwide please visit: http://www.hud.gov/homes/homesforsale.cfm

This list will often provide training opportunities and event announcements for non-profit and local government HUD partners. HUD does not endorse the organizations sponsoring linked websites, and we do not endorse the views they express or the products/services they or their community/business partners offer. For more information on HUD’s web policies please visit: http://www.hud.gov/assist/webpolicies.cfm

Partner Quality Program

Access E Mortgage has been approved for our Partner Quality Program. This essentially means that our $395 underwriting fee will no longer be charged on new files received after today and, when possible, we will underwrite your files (those that meet our “Clean File” submission requirements) faster. There are other benefits coming for this plan, but at this time, the waiving of the underwriting fee is the main benefit.

Details of the program are on page 76 of our guidelines which are posted on the Program Guides page of our web site.

As you know, I have scheduled a processing training for your processors for this Friday morning. My goal is to cover our process and answer their questions so that we can ensure that as many files as possible meet our submission requirements. Please suggest attendance.

Thank you for your continued business and support and don’t hesitate to let me know what I can do for you.

David GoldWholesale Regional Account Manager
Genworth Financial Home Equity Access, Inc.
formerly Liberty Reverse Mortgage, Inc.
10951 White Rock Road, Suite 200Rancho Cordova, CA 95670Direct:(407) 271-9694Broker Care: (866) 871-1353
Fax: (866) 375-6139david.gold@genworth.com

For immediate assistance please contact Broker Care at (866) 871-1353 or BrokerProgram@genworth.com

To learn more about Genworth's Total Practice Management path to Reverse Mortgage success, please visit http://reversepartner.genworth.com.

StoneWater Mortgage Bulletin 2009-19-G ~ Government Lending Changes

BULLETIN 2009-19-G
April 15th, 2009

IMPORTANT INFO BELOW - PLEASE READ CAREFULLY!

STONEWATER MORTGAGE – GOVERNMENT LENDING

Given the industry wide complexities surrounding the current FHA market, StoneWater Mortgage has decided to temporarily discontinue offering Government loan programs. We will however, retain our FHA Full Eagle designation as well as our entire DE underwriting staff so that we may re-enter the government arena as it stabilizes.
One of the benefits of this temporary shift in focus to conventional business will allow StoneWater to provide a significantly higher level of customer service which, combined with our cutting edge technology, will provide the best platform for the success of our business partners. With this in mind, there exists numerous mutual opportunities for both StoneWater and its business partners to take advantage of in the Conventional arena such as "DU Refi Plus" as well as other future programs designed to meet the current needs of homeowners and home buyers.
The following will apply to all government loans:

Thursday, April 16th Last day to submit complete unlocked government loans
(Locks will only be allowed on submitted government loans)
Friday, April 17th Last day to lock any submitted government loans

All loans currently in process and already locked are not affected by this change and can close as scheduled. Previously locked loans will be subject to normal lock term delivery requirements. Any loan falling outside of this policy will be stopped and will not proceed into our Underwriting Department.

For any questions regarding this bulletin, please contact your Regional Account Manager or Account Executive. Thank you for your continued business.

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LOCK TERM REQUIREMENTS REMINDER:
15 Day Lock terms are only available for loans that have been fully approved.
30 and 45 Day Lock terms are available for both purchase and refinance transactions.
a. The complete Credit Package must be received on or prior to the 15th calendar day of the lock period.
b. Locks will be subject to cancellation after the lock cut off time on the delivery expiration date if the complete credit package has not been submitted.
c. Once a lock has cancelled, it will be subject to worse case pricing after the file has been submitted.

"DID YOU KNOW" #9

“DID YOU KNOW”

· FHA does not require Fed Tax Liens to be paid off at closing. They are automatically subordinate to our 1st lien.

· Non Judgment collections do not need to be paid off at closing

Marty Lehman
Security Atlantic Mortgage
Wholesale Account Executive
561-625-6035 Office Phone
954-520-6054 Cell
866-226-2592 Fax
Industry Leader In Turn Times - Don't Wait Weeks For An Approval!
Email Address m.lehman@fhaland.com
Website www.fhaok.com