Tag: Federal Housing Administration
Rate Lock Volume Jumps 43 Percent
Rate Sensitive Borrowers Are Causing Rate Lock Volume To Jump 43%. Are Borrowers About To Go Into Panic Mode? Rate lock volume jumped 43% in March. Some experts say this is due to market conditions. Lock volumes increased across the board. This was led by purchase locks jumping 44% in March. This was above the…
New FHA Guidelines To Ignore COVID-Era Employment Lapses
Lenders Have Until September 5th To Comply With New FHA Guidelines Ignoring COVID-Era Employment Lapses New FHA guidelines loosen the requirements to qualify for a loan if they lost work during the pandemic. Beginning September 5th, lenders are to ignore job gaps during the Covid-19 pandemic. The Federal Housing Administration (FHA) announced new flexibility for…