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FHA Recertification Changes - Final Rule
Tuesday, April 20, 2010 - 10:34 AM
The final rule has been released.  A copy can be found here.
<< Navigate to Tuesday, April 20, 2010 Add New Comment
Kathy
Thursday, April 22, 2010 - 11:37 AM
FHA Final Rule Change
Please see our recent newsletter at http://archive.constantcontact.com/fs035/1102964298491/archive/1103332488606.html
Elizabeth Reider
Tuesday, April 20, 2010 - 10:24 AM
FHA Final Rule Change
Would someone please clarify :
Elimination of FHA Approval of Loan Correspondents

The final rule limits the FHA approval process to mortgagees, but
provides that all loan correspondents approved as of the date of the
effective date of this final rule will maintain their approval through
December 31, 2010. Commencing 30 days following publication of this
rule, FHA will no longer approve new applicants for approval as loan
correspondents.

Does this mean that loan correspondents do or do not need to have their 12/31/2009 audits? Once again there is no definition of what makes up an 'approved loan correspondent' - do you have to have completed audits in order to be considered approved?
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