One Time Close
Monday, December 11, 2017 -
Article by:
bcahoone - Global Home Finance Inc -
One-Time Close Construction Loans for builders
Global Home Finance Inc. has recently launched its Single Close Construction Program for FHA, VA, and USDA construction lending. Since its launch, GHF has approved more than 15builders to offer its products in Texas. This low down-payment construction option is a great alternative in markets that are strapped for inventorylike DFW. GHF Mortgage is one of the few lenders in the country offering new construction lending for the 100% LTV USDA product. If you are a branch manager, loan originator or processor with construction lending experience or would like to offer construction lending products please, reach out to Brad Cahoone at 972-724-3222 ext. 227. Don't get left behind your competition!
Flood Insurance And The Government On Dec. 8, the National Flood Insurance Program (NFIP) was set to expire. Late last week Congress passed, and the President signed, a two-week spending bill to avoid a government shutdown, allowing an extension on the NFIP to 12/22. In the simplest terms, if the NFIP expires, virtually no homes in any floodplain could be bought or sold if that deal involves a mortgage company because anyone buying a home with a federally-backed loan is required to carry flood insurance if that house sits in a flood plain. Any way to run a country? We need a long term solution and need to stop "kicking the can down the road." ARMCO announced new loan data validation tools. ACESRisk Management (ARMCO), the leading provider of financial quality control and compliance software has announced the release of a new technology for mortgage lenders and servicers that improves data validation in the QC process. ARMCO's new datavalidation tool is available through the most recent ACESAudit Technology upgrade, which was released on December 9, 2017. This upgrade's principal enhancement is advanced process automation functionality that enables ACES to automatically identify missing data within the loan file. Data integrity issues are one of the top causes of critical defects, according to research released in the most recent ARMCOMortgage QC Industry Trends Report. With the system's new advanced automation functionality, ACES now fulfills an essential function for avoiding data validation errors. FHA/VA/Ginnie program changes Iberiabank Corpand two subsidiaries agreed to pay $11.69 million to resolve allegations they submitted false claims for federal loan guarantees on mortgages, the U.S. Justice Department said on Friday. Between Jan. 1, 2005, and Dec. 31, 2014, the Lafayette, Louisiana-based bank and its Iberiabank and Iberiabank Mortgage Co. units admitted to certifying mortgage loans that did not meet Federal Housing Administration standards and paid incentives to underwriters, which is prohibited, the department said in a statement. Millennials have "discovered" the FHA 203(k) product, allowing for additional funds to improve/rehab the home and the total loan amount is the home value after the improvements, according to an appraisal that considers the plans submitted as part of the loan application. The Day, focusing on Eastern Connecticut, profiled the product and several millennial homebuyers. Related Searches:
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