Lynn B. Friedman - Atlanta Homes ODAT Realty

Did you know that 64 underwriting rules about to change for FHA buyers?

Dear Readers -

Karen Deis from Minneapolis, MN shares a warning for everyone in the real estate industry.
2015 is the year of BIG Mortgage changes. One  is the new FHA Underwriting Handbook - #4000.1. 

Karen's career path progressed from Closing Agent, to Loan Originator and then all the way to owning a Mortgage Company with her beloved sister, Becky. Her directed career path led her to become a Consultant - here on AR - where her slogan is "When IN-House Training Isn't Enough".

In this post, she cautions us to verify that the Lenders our Buyers chose know the 64 changes coming up --- a lot of differences to be sure. No one wants to lose a sale because a Lender wasn't prepared.

That's why - at Atlanta Homes ODAT Realty - we recommend several local and very competent Lenders for our Clients to use. All four stay on top of details and allow us to CLOSE ON TIME!  
-  Julie Beaty from Fidelity Mortgage      -  Rodney Mason with Prospect Mortgage        
Mark Moore with Shelter Mortgage        -  Rick Darlington with Brand Mortgage 

Choose one of them.
Work with the best as you look for a wonderful new home in Buckhead Atlanta.

Have a happy day -Lynn

PS   Just in case I haven’t thanked you personally, I really appreciate every time you stop by to read and/or comment on my posts. L.

=====================================================

Did you know that the underwriting rules are about to change for FHA hombuyers?  

So, here's the dealio...

For over 40 years, FHA underwriting bible was called the 4155 handbook.  The new verison of the FHA bible (#4000.1) goes into effect on September 14, 2015.  

Why would you care about it now? 

Because if you are working with an FHA buyer who has been preapproved under the old rules, and they end up buying a home after September 14, they may no longer qualify for the loan.  

As of last week, there were 64 (yes, 64 of them) MAJOR underwriting rule changes.  An a ton of minor ones that may not have much effect at all.  

My advice!  

If your buyers have been pre-approved using the old rules, I suggest that you get in touch with your mortgage loan officer and ask them to RE-APPROVE your clients using the new rules.  

If your loan officer is not aware of all 64 underwriting changes, I recommend that they visit www.MortgageCurrentcy.com for a handy chart that compares the old rules to the new ones. 

Or, just find another loan officer who KNOWS how to pre-qual your clients using the new bible.  

Motto:  Getting a loan approved and closed these days IS ROCKET SCIENCE!  

Karen Deis, Helping Loan Officers & Real Estate Agents Get More Leads and Close More Loans

www.LoanOfficerTraining.com

www.ApartmentToolKit.com

www.MortgageCurrentcy.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Need a REALTOR(R)?
 
Let me Google multi-color logo Atlanta Real Estate ODAT that for you.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Lynn B Friedman reviews             facebook      twitter      google plus      linkedin       

                                                                                                                                   Click & Search 

             

 

Comment balloon 3 commentsLynn B. Friedman • August 17 2015 02:08AM
Did you know that 64 underwriting rules about to change for FHA…
share
Dear Readers - Karen Deis from Minneapolis, MN shares a warning for everyone in the real estate industry. 2015 is the year of BIG Mortgage changes. One is the new FHA Underwriting Handbook - #4000. 1. Karen's career path progressed from Closing… more
Buckhead Atlanta- X-Rated Real Estate Ads - Adults Only Please
share
Buckhead Atlanta- X-Rated Real Estate Ads Adults Only Please The usual warning applies: the video and some of photos might be considered NSFW Some are courtesy of Michael Anysley May contain childish sex innuendos and all that. Plus some of the… more
Community Guidelines - Recent Posts about Mutual Respect in ActiveRain
share
Community Guidelines - Recent Posts about Mutual Respect in ActiveRain For the 2015 BIG Blog Jumpstart Challenge, members' thoughts about the ActiveRain Community Guidelines were requested. Here's a sampling for you to read and enjoy. No rhyme… more
Disagree with Zestimate using Zillow Comment Feature
share
Disagree with Zestimate using Zillow Comment Feature Disagree with Zestimate using Comment Feature When working with Clients, most real estate professionals contend with the comment "But Zillow says.. " whether working with Buyers or… more
Atlanta Beltline Basics include Community Activities Part One
share
Atlanta Beltline Basics include Community Activities Part One Join ODAT Realty as we begin our series about the Atlanta BeltLine. The Beltline defines itself as " a 22-mile loop of historic railroad that encircles downtown and midtown… more
Buckhead Atlanta, GA Metro Atlanta Locksmith Scam spreading across US
share
Buckhead Atlanta, GA Metro Atlanta Locksmith Scam Spreading across US When you need a locksmith, you need a person you may trust. In Atlanta, Georgia, you have great choices. Try contacting Scott at G&W Locksmith 770-480-6510 - a multi… more