Video Bullets

• The U.S. Department of Housing and Urban Development (HUD) released Federal Housing Administration (FHA) Mortgagee Letter 2009-50, addressing the 2010 FHA Loan Limits. The 2010 minimum FHA loan limit for single-unit properties will remain at $271,050 (65% of the conforming loan limit). The 2010 maximum FHA loan limit for single-unit properties is $729,750.

Read the Mortgagee Letter 2009-50

• HUD has issued in the Federal Register a FHA Proposed Rule on loan correspondents (mortgage brokers) no longer needing independent FHA-approval for origination eligibility, as well as increasing the net worth for FHA-approved mortgagees. The deadline to submit comments on the proposed rule is December 30, 2009.

Read the Proposed Rule

• Ohio Attorney General sues ratings agencies – finally, an Attorney General doing the right thing

• Tax Credit or Seller Funded Down Payment Assistance.  Which do you prefer?  Place your answer in the comment section below.