Register Today!
“HUD has decided to raise the annual premium and correspondingly lower the upfront premium, except for Home Equity Conversion Mortgages (HECM), so that FHA is in a better position to address the increased demands of the marketplace and return the Mutual Mortgage Insurance (MMI) fund to congressionally mandated levels without disruption to the housing market. Based on the new authority, effective for FHA loans for which the case number is assigned on or after October 4, 2010, FHA will lower its upfront mortgage insurance premium (except for HECMs) simultaneously with an increase to the annual premium which is collected on a monthly basis. This policy change will decrease upfront premiums for purchase money and refinance transactions, including FHA-to-FHA credit-qualifying and non-credit qualifying streamlined refinance transactions.”
Source: U.S. Department of Housing and Urban Development, Mortgagee Letter 2010-28 - September 1, 2010
ON TARGET WITH THE
EDUCATION YOU NEED NOW!
FHA—What You Need to Know!
No more “mini eagles” and new guidelines make the FHA
product even more necessary. Those new to FHA will need
guidance for investors to accept loan submissions. Certificates
of completion from us will be accepted by most investors.
NEW MEXICO ASSOCIATION OF MORTGAGE PROFESSIONALS
BRING THE FHA EXPERT TO ALBUQUERQUE!
Juliana Brock, CMI, CME of Power Training is Nationally recognized as the FHA expert and has been an FHA workshop presenter for professional associations including Texas Association of Mortgage Professionals and National Association of Professional Mortgage Women. Having taught many mortgage professionals the FHA product, let her help you succeed!
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Pick from a 1/2 day of what you need to know
or include the afternoon and get it all!
1/2 Day Session
8:30am - 9:00am - Registration
9:00am - 1:00pm
FHA For Originators and Processors
$95 per person -
includes continental breakfast and certificate of completion.
*Full Day Session 9:00am - 5:00pm
New Guidance for:
Loan Limits
Seller Contributions
MIP Factors
Condominiums
Streamline Refinance Changes
Short Sale Borrowers
Appraisal Updates / Validity Periods
Additional Topics
Calculation of loan amount and monthly premiums
Basic required disclosures
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1:30pm - 2:00pm - Registration
2:00pm - 5:00pm
*$165 per person - includes lunch, all of the above and:
• Completion of FHA Transmittal Summary
Completion of FHA 92900a
Completion of Conditional Commitment
Documents required for submission
Using the FHA Connection
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Friday, November 19, 2010
CLT Conference Center
6240 Riverside Plaza Lane
Albuquerque, NM. 87120
To register - visit
www.powertraininginc.com
Click on calendar and then select the course. The link “register” will direct you to a page where you set up your user name and password. Select from 1/2 day or full day.
QUESTIONS CALL
512-451-9112 OFFICE
or
THERESA CASTELLANO, Executive Director, NMAMP
505-480-8514
Lunch Sponsor
Kati Busby 512-657-3817
Katianna.Busby@wellsfargo.com
