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What else can I help you with?
Are Fannie Mae and Freddie Mac FHA lenders?
No Fannie Mae and Freddie Mac are not FHA lenders. FHA loans are guaranteed loans and the others are not. FHA loans also have different guidelines and qualification tools.
Prepayment penalty on a fixed rate Was there a new law passed abour prepayment penalty?
That is going to be a State by State thing. But you will not find a Prepay penalty on an FHA or VA loan and typically you will not find them on Conforming loans (Fannie/Freddie stuff)
Does FHA issue MBS?
No, the Federal Housing Administration (FHA) does not issue mortgage-backed securities (MBS) directly. Instead, it provides mortgage insurance on loans made by approved lenders, which helps to facilitate the issuance of MBS backed by those insured loans. This insurance reduces the risk for lenders, thereby encouraging them to make more loans that can be bundled into MBS. The actual issuance of MBS is typically handled by government-sponsored enterprises like Fannie Mae and Freddie Mac.
Is ginnie Mae part of the president's stimulus package?
No Ginnie Mae is not part of the President's stimulus package. I called my bank Flagstar and they told me, the stimulus package is for Fannie Mae and Freddie Mac Loans only. There is a number that you can call and complain 202-708-1535. Update 09-17-2009: Ginnie Mae only guarantees loans that are securitized through them. They are associated with FHA, VA, & RD loans. So if the loan is insured by FHA and securitized by Ginnie Mae, they have a chance for assistance. FHA has just come out with a program to help homeowners in default called FHA-Home Affordable Modification Program. Ian Borbolla
Are FHA loans sponsered by the government?
Yes FHA loans are sponsored by the government, seeing as FHA stands for the Federal Housing Authority. FHA loans are usually mortgages for lower/middle income families.
Are FHA mortgages uninsured?
what makes fha uninsured loans?
Where can I view the current interest rates for FHA loans in Texas?
You can view the current interest rates for FHA loans in Texas at www.fha.com. Another good website is www.QuickenLoans.com/FHA-Loans or www.interbanklending.com
Where do funds for FHA loans come from?
From any FHA approved lender
Who is NOT an originator of primary loans?
Fha
Are 4506T forms always required on FHA loans?
FHA loans is a Full Documentation loan, and all income will need to be verified.
Would you explain residual income guidelines for FHA loans?
FHA doesn't have residual income guidelines...this applies to VA loans
How do I find out about FHA refinance loans?
FHA loans are for people who are buying homes that have low incomes. To get a refinance option it would need to be a regular loan because FHA is already as low as it will get.
