[IONEGARM]

[quote=SD Realtor]IONEGARM the lenders are actually the ones overlaying the guidelines on top of the FHA. [/quote]

Yep, its overlays from the lenders not FHA. FHA is tightening on cash out refis right now and has previously added in some buy N bail underwriting.

I think the 620 FICO min will hit the market hard when all lenders implement it (and they will).

I dont have a huge problem with 3.5% down as a buyer as long as its full doc and there is something significant coming from the buyers side. That prevents a lot of the games from being played.

[IONEGARM]

[quote=SD Realtor]IONEGARM the lenders are actually the ones overlaying the guidelines on top of the FHA. [/quote]

Yep, its overlays from the lenders not FHA. FHA is tightening on cash out refis right now and has previously added in some buy N bail underwriting.

I think the 620 FICO min will hit the market hard when all lenders implement it (and they will).

I dont have a huge problem with 3.5% down as a buyer as long as its full doc and there is something significant coming from the buyers side. That prevents a lot of the games from being played.

[IONEGARM]

[quote=SD Realtor]IONEGARM the lenders are actually the ones overlaying the guidelines on top of the FHA. [/quote]

Yep, its overlays from the lenders not FHA. FHA is tightening on cash out refis right now and has previously added in some buy N bail underwriting.

I think the 620 FICO min will hit the market hard when all lenders implement it (and they will).

I dont have a huge problem with 3.5% down as a buyer as long as its full doc and there is something significant coming from the buyers side. That prevents a lot of the games from being played.

[IONEGARM]

[quote=SD Realtor]IONEGARM the lenders are actually the ones overlaying the guidelines on top of the FHA. [/quote]

Yep, its overlays from the lenders not FHA. FHA is tightening on cash out refis right now and has previously added in some buy N bail underwriting.

I think the 620 FICO min will hit the market hard when all lenders implement it (and they will).

I dont have a huge problem with 3.5% down as a buyer as long as its full doc and there is something significant coming from the buyers side. That prevents a lot of the games from being played.

[IONEGARM]

[quote=SD Realtor]IONEGARM the lenders are actually the ones overlaying the guidelines on top of the FHA. [/quote]

Yep, its overlays from the lenders not FHA. FHA is tightening on cash out refis right now and has previously added in some buy N bail underwriting.

I think the 620 FICO min will hit the market hard when all lenders implement it (and they will).

I dont have a huge problem with 3.5% down as a buyer as long as its full doc and there is something significant coming from the buyers side. That prevents a lot of the games from being played.

[IONEGARM]

[quote=Diego Mamani]

My point exactly. That a big chunk of the “market” has nothing to do with market and everything to do with populist politics! Can’t anybody in govt (Larry Summers, Tim G., Paul Volcker, etc.) tell Obama that delaying the inevitable will only prolong the pain?

[/quote]

FHA underwriting was this loose way before the current administration got in office. It has been tightening up underwriting and lenders have been adding on overlays.

FHA is popular for one reason and one reason only. 3.5% down. If FHA wasn’t there it would be whoever was the next lowest down payment requirement would be the most popular.

[IONEGARM]

[quote=Diego Mamani]

My point exactly. That a big chunk of the “market” has nothing to do with market and everything to do with populist politics! Can’t anybody in govt (Larry Summers, Tim G., Paul Volcker, etc.) tell Obama that delaying the inevitable will only prolong the pain?

[/quote]

FHA underwriting was this loose way before the current administration got in office. It has been tightening up underwriting and lenders have been adding on overlays.

FHA is popular for one reason and one reason only. 3.5% down. If FHA wasn’t there it would be whoever was the next lowest down payment requirement would be the most popular.

[IONEGARM]

[quote=Diego Mamani]

My point exactly. That a big chunk of the “market” has nothing to do with market and everything to do with populist politics! Can’t anybody in govt (Larry Summers, Tim G., Paul Volcker, etc.) tell Obama that delaying the inevitable will only prolong the pain?

[/quote]

FHA underwriting was this loose way before the current administration got in office. It has been tightening up underwriting and lenders have been adding on overlays.

FHA is popular for one reason and one reason only. 3.5% down. If FHA wasn’t there it would be whoever was the next lowest down payment requirement would be the most popular.

[IONEGARM]

[quote=Diego Mamani]

My point exactly. That a big chunk of the “market” has nothing to do with market and everything to do with populist politics! Can’t anybody in govt (Larry Summers, Tim G., Paul Volcker, etc.) tell Obama that delaying the inevitable will only prolong the pain?

[/quote]

FHA underwriting was this loose way before the current administration got in office. It has been tightening up underwriting and lenders have been adding on overlays.

FHA is popular for one reason and one reason only. 3.5% down. If FHA wasn’t there it would be whoever was the next lowest down payment requirement would be the most popular.

[IONEGARM]

[quote=Diego Mamani]

My point exactly. That a big chunk of the “market” has nothing to do with market and everything to do with populist politics! Can’t anybody in govt (Larry Summers, Tim G., Paul Volcker, etc.) tell Obama that delaying the inevitable will only prolong the pain?

[/quote]

FHA underwriting was this loose way before the current administration got in office. It has been tightening up underwriting and lenders have been adding on overlays.

FHA is popular for one reason and one reason only. 3.5% down. If FHA wasn’t there it would be whoever was the next lowest down payment requirement would be the most popular.

[IONEGARM]

[quote=SD Realtor]I will have an answer on the FHA guidelines for spouses in a few moments.

I can say this, right now the government is pushing very hard for FHA approval on purchases. Pushing… very very hard.

Thanks government![/quote]

Most FHA lenders are adding in a 620 min FICO overlay to their FHA loan qualification.

I don’t think the government is pushing that hard. FHA is understaffed and now represents a huge chunk of the market.

[IONEGARM]

[quote=SD Realtor]I will have an answer on the FHA guidelines for spouses in a few moments.

I can say this, right now the government is pushing very hard for FHA approval on purchases. Pushing… very very hard.

Thanks government![/quote]

Most FHA lenders are adding in a 620 min FICO overlay to their FHA loan qualification.

I don’t think the government is pushing that hard. FHA is understaffed and now represents a huge chunk of the market.

[IONEGARM]

[quote=SD Realtor]I will have an answer on the FHA guidelines for spouses in a few moments.

I can say this, right now the government is pushing very hard for FHA approval on purchases. Pushing… very very hard.

Thanks government![/quote]

Most FHA lenders are adding in a 620 min FICO overlay to their FHA loan qualification.

I don’t think the government is pushing that hard. FHA is understaffed and now represents a huge chunk of the market.

[IONEGARM]

[quote=SD Realtor]I will have an answer on the FHA guidelines for spouses in a few moments.

I can say this, right now the government is pushing very hard for FHA approval on purchases. Pushing… very very hard.

Thanks government![/quote]

Most FHA lenders are adding in a 620 min FICO overlay to their FHA loan qualification.

I don’t think the government is pushing that hard. FHA is understaffed and now represents a huge chunk of the market.

[IONEGARM]

[quote=SD Realtor]I will have an answer on the FHA guidelines for spouses in a few moments.

I can say this, right now the government is pushing very hard for FHA approval on purchases. Pushing… very very hard.

Thanks government![/quote]

Most FHA lenders are adding in a 620 min FICO overlay to their FHA loan qualification.

I don’t think the government is pushing that hard. FHA is understaffed and now represents a huge chunk of the market.

[Author]

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