This story is just ironic to me.
Ironic.
Leave a reply
Tag Archives: HUD
The New Good Faith Estimate
In case you hadn’t heard – and why would you be paying attention to this stuff, right? – the Department of Housing and Urban Development has introduced a new Good Faith Estimate that will enter the real estate transaction on January 1 2010, and in my opinion it does a great job of breaking out the real estate transaction.
Taylor, Bean & Whitaker Gets The Smackdown
WASHINGTON – The Federal Housing Administration (FHA) today suspended Taylor, Bean and Whitaker Mortgage Corporation (TBW) of Ocala, Florida, thereby preventing the Company from originating and underwriting new FHA-insured mortgages. The Government National Mortgage Association (Ginnie Mae) is also defaulting and terminating TBW as an issuer in its Mortgage-Backed Securities (MBS) program and is ending TBW’s ability to continue to service Ginnie Mae securities. This means that, effective immediately, TBW will not be able to issue Ginnie Mae securities, and Ginnie Mae will take control of TBW’s nearly $25 billion Ginnie Mae portfolio.
Buyers – The First Time Buyer Credit Can Now Be A Downpayment
I’ve written a few times here on the blog now about the First Time Buyer Tax Credit, and one of the things that kept getting thrown about was whether the credit could be used as a downpayment. For the longest time, the answer was no, but recently that’s all changed – kind of.