Audio News from FAMB and the FAMB Foundation! (C) FAMB, 2007

The new FHA Secure Initiative - how does it work?

Nelson Locke — Tue, 11 Sep 2007 16:03:52 GMT

This program was just announced by FHA in response to President Bush's concerns over homeowners who are facing foreclosure because of re-setting ARMS.

It is available to qualified homeowners but must be originated through an FHA approved lender.

This six minute sound bite will give you the basics.

If you need more information, you may contact FAMB and be directed to a participating FHA Lender.

Changes to FS 494 - The Mortgage Broker Business Agreement

Nelson Locke — Mon, 10 Sep 2007 12:09:53 GMT

Changes to the Mortgage Broker's
Business Agreement are effective
Ocober 1, 2007. If you fail to make
these changes, you cannot charge
your fee! Listen up!

Changes to FS 494 - ARM Disclosure requirements.

Nelson Locke — Mon, 10 Sep 2007 11:37:43 GMT

Changes take effect October 1, 2007.
Listen up!

Changes to FS 494 - the "Good Faith Estimate"

Nelson Locke — Mon, 10 Sep 2007 11:37:09 GMT

These changes take effect October 1, 2007.
The intent is to make the process smoother
for the consumer, more predictable, with
fewer last minute surprises. Listen up!

Changes to FS 494 - "Yield Spread Premium Disclosures"

Nelson Locke — Mon, 10 Sep 2007 13:26:22 GMT

If you want to keep your YSP,
you need to know about this.

These changes take place
on October 1, 2007. Listen up.