Rodney Mason - Conv, FHA, VA, USDA, Renovation

If you you are purchasing a short sale, there are certain items that the seller’s short sale letter(s) must contain.    Short Sale Approval Letter Requirements   ·         Name/address of seller’s mortgage company ·         Name, contact phone#, and job title for the seller’s lender representativ...

Here is a great list Condo questions from a fellow Prospect Mortgage loan officer.  Condo financing can be tricky in today's market.  Having a knowledgeable loan officer is critical to a successful closing.       If you are buying a condo, ask these 10 questions before you sign on the dotted line...

FHA’s Energy Efficient Mortgage program can help you save money on utility bills.  FHA's EEM program allows you to finance the cost of adding energy efficiency features to new or existing housing.  It can be as part of an FHA purchase loan or mortgage refinance.   You can also buy a home that is...

For all FHA mortgages, HUD recently revised its Family Member definition for Identity of Interest.   The definition of a family member, for purposes of Identity of Interest transactions has been expanded to include:   ·     Brother, stepbrother ·     Sister, stepsister ·     Uncle ·     Aunt   Th...

REBuildUSA has partnered with Lowe's Home Improvement Stores to assit home buyers and home owners.  An FHA 203K loan allows you to purchase or refinance and renovate a home in one easy loan. Your loan is based on the after-improved value – what the house will be worth once the renovations are com...

After months of pursuing a sale of its mortgage division, MetLife announced today that it would instead wind down its operations.  Rumors of potential suitors have been widely reported over the last few weeks.  In the end, none ever materialized.  As of 5 pm today, the company has stopped accepti...

As anticipated, HUD has announced that the 90 Day Flip Waiver for FHA mortgages has been extended once again.  On January 15, 2009, HUD announced a waiver to its restriction of a borrower being able to obtain FHA financing on a property that had been acquired by the seller in the 90 days precedi...

Fannie Mae & Freddie Mac Announce 2012 - Conforming Loan Limits for Georgia   The Federal Housing Finance Agency (FHFA) has announced 2012 conforming loan limits.  The agency base conforming and high-cost area loan limits will remain at the existing 2011 levels through December 31, 2012.  The onl...

Fannie Mae & Freddie Mac Announce 2012 - Conforming Loan Limits for Alabama   The Federal Housing Finance Agency (FHFA) has announced 2012 conforming loan limits.  The agency base conforming and high-cost area loan limits will remain at the existing 2011 levels through December 31, 2012.  The onl...

The mortgage lending world has gone through many changes since 2007.  In the lending side, we still constantly face changes in trying to educate others as to today's realities. While real estates agents and borrowers may not agree, all of Ellie's issues below are all very valid requests to comply...