fha update

www.fha.gov

FHA UpdateFHA Update

Florida Association of Mortgage Brokers

Miami ChapterFebruary 18, 2009

Selene ProenzaFHA Customer LiaisonFHA - Office of Business Development(305) [email protected]

1-800-Call FHA1-800-Call FHA FHA - Serving Homebuyers Since FHA - Serving Homebuyers Since 19341934

www.fha.gov

FHA’s Role in the Mortgage FHA’s Role in the Mortgage MarketMarket

o The FHA-insured share of all home purchases has been above 17 percent since July 2008.o It has not been this high since 1990.It has not been this high since 1990.o The FHA share of new home sales is 24 percent.The FHA share of new home sales is 24 percent.

o FHA’s mortgage market share is somewhere between 25 and 30 percent, based on dollar volumes.o In 2006 it was around 2 percent.In 2006 it was around 2 percent.

www.fha.gov

FHA’s Role in the Mortgage FHA’s Role in the Mortgage MarketMarket

((Source: US Department of HUD, National Association of Source: US Department of HUD, National Association of Realtors, and US Bureau of the Census)Realtors, and US Bureau of the Census)

FHA-Insured Share of all Home Purchases, 1989-2008

0.00

5.00

10.00

15.00

20.00

25.00

Per

cent

age

of H

ome

Sale

s

By Fiscal Year By Month

www.fha.gov

FHA’s Role in the CommunityFHA’s Role in the Community

o Help families achieve their “American Dream” Help families achieve their “American Dream” (Homeownership)(Homeownership)o First-time homebuyersFirst-time homebuyerso Minority groupsMinority groupso Elderly and disabledElderly and disabled

o Create an educated consumer – housing counselingCreate an educated consumer – housing counselingo Stabilize and rehabilitate communitiesStabilize and rehabilitate communitieso Promote economic growthPromote economic growtho Preserve neighborhoodsPreserve neighborhoodso Help increase the value of the property (Equity)Help increase the value of the property (Equity)

www.fha.gov

Welcome to FHAWelcome to FHA

MISSION STATEMENT

“Promote affordable housing by helping people underserved in the private sector with

homeownership, rental housing and health care facilities. We will accomplish this by providing

consumer education, quality mortgage insurance products to the financial and real estate communities and best-in-class customer

service.”

www.fha.gov

Welcome to FHAWelcome to FHA

Office of Business DevelopmentStrategic Customer-Focused Mission

“To strategically align with and tactically support FHA industry customers while educating the end user community about the value of FHA programs.”

o Customer-centric business modelCustomer-centric business modelo Cross-functional teamwork and matrix managementCross-functional teamwork and matrix managemento Coordinated approach to the marketCoordinated approach to the market

www.fha.gov

• Homebuyers• Developers

MAR-COMTeam

Web Portal HOC/Field/HQ

Market Research

Customer/Industry Intelligence

Process and Technology

The Market

Marketing Channels

Dynamic Customer Knowledge

• Customer Requirements, Needs, Preferences , Expectations • Evolving Industry Patterns

• FHA Business Processes − Business Process Reengineering• CRM, Business Intelligence Apps

Consumers

FHA Business Model

Enabling Infrastructure

FHA Listening Posts

K.P

.I.s

►►

FHA Customers• Lenders• Industry Influencers

CustomerLiaisonTeam

www.fha.gov

FHA Outreach & Education

Investments in New Programs and Infrastructure

4. Quality /BPR

− Lean office BPR− Customer participation in re-engineering

− Lender-focused

− Geographic coverage by named customer

− 4-tiered program

− SAS business intelligence

− Upgrading of GIS mapping capability

− Co-Branding

− Advertising campaign

− FHA.gov− New Web Portal

− New Customer Relationship Management (CRM)

Systems

1. Customer Liaison

5. Systems3. Marketing &

Communications

2. Market Data & BI

www.fha.gov

Customer Liaison Program

Geographic coverage by named customer

Four-tiered program

− Strategic: Senior Customer Liaison − Customer Advocate

− Tactical: Customer Liaison

− Day-to-day: 1-800-CALL-FHA

− 24x7: FHA.gov

Customer

www.fha.gov

Customer Liaison Program continued

Customer

Primary point of contact for: − Strategic planning

− Marketing communications and planning

− Communicating customer concerns to policymakers

− Training, education, and brand awareness building

− Major event support

− Timely FHA-related information

Handle origination, servicing, and asset management issues

Support training and education delivery

Event support Distribute FHA information

to customers Support Senior Customer

Liaisons

Solve day-to-day issues

Information source Self-service– automated process

www.fha.gov

What is FHA?What is FHA?

An FHA-insured mortgage is a viable option for all. A mortgage product tailored to the buyer's needs benefits everyone…

o The homeowner can afford the payments – low The homeowner can afford the payments – low costscosts

o The homeowner is happy and satisfiedThe homeowner is happy and satisfiedo A happy homeowner refers family and friends A happy homeowner refers family and friends

to you, their real estate agent or brokerto you, their real estate agent or broker


www.fha.gov

FHA OverviewFHA Overview

o FHA was established in 1934 FHA was established in 1934 and became a part of the U.S. and became a part of the U.S. Department of Housing and Department of Housing and Urban Development in 1965Urban Development in 1965

o FHA is the U.S. Government’s FHA is the U.S. Government’s largest insurer of loans - largest insurer of loans - 4.68 million loans in portfolio4.68 million loans in portfolio

o FHA offers mortgage FHA offers mortgage insurance to protect lenders insurance to protect lenders in event of borrower defaultin event of borrower default

o The insurance protection The insurance protection allows lenders to originate allows lenders to originate mortgages to those who may mortgages to those who may not qualify under not qualify under conventional guidelinesconventional guidelines

FHA does not:

o Originate, close, fund, or Originate, close, fund, or service loansservice loans

o Set the interest rateSet the interest rate

o Determine fees and chargesDetermine fees and charges

o Have income limitsHave income limits

www.fha.gov

What About FHA Loans?What About FHA Loans?

o Let FHA Loans Help You & Your BuyerLet FHA Loans Help You & Your Buyero Find an FHA-approved LenderFind an FHA-approved Lender


www.fha.gov

Advantages for BuyersAdvantages for Buyers

o Smaller Down Payment – 3½%Smaller Down Payment – 3½%o Flexible Down Payment Sources - evidenceFlexible Down Payment Sources - evidenceo No Maximum Income or Sales Price Limits – No Maximum Income or Sales Price Limits –

(Subject to Maximum Loan Limits)(Subject to Maximum Loan Limits)o Buyer doesn’t need to have perfect creditBuyer doesn’t need to have perfect credito No Prepayment PenaltyNo Prepayment Penaltyo Loss Mitigation optionsLoss Mitigation optionso Standard MIPStandard MIP


www.fha.gov1-800-Call FHA1-800-Call FHA FHA - Serving Homebuyers FHA - Serving Homebuyers Since 1934Since 1934

FHA BenefitsFHA Benefits

o Fully Amortizing Loans – Fixed & ARMFully Amortizing Loans – Fixed & ARMo Automated and Manual UnderwritingAutomated and Manual Underwritingo Traditional and non-traditional creditTraditional and non-traditional credito Low Down Payment – can be Gifted or BorrowedLow Down Payment – can be Gifted or Borrowedo Assumable loanAssumable loano Ability to Streamline Refinance without Credit Ability to Streamline Refinance without Credit

QualifyingQualifyingo Loss Mitigation options – financial incentives for Loss Mitigation options – financial incentives for

lenderlender

www.fha.gov

Borrower Borrower CharacteristicsCharacteristics

o Owner-Occupant onlyOwner-Occupant onlyo Co-borrowers (occupying and non-occupying)Co-borrowers (occupying and non-occupying)o Co-signersCo-signerso Citizenship not required; SSN is requiredCitizenship not required; SSN is requiredo No maximum ageNo maximum ageo No income limitsNo income limits

www.fha.gov

FHA Modernization Legislation

Housing and Economic Recovery Act of 2008

o Changed Down Payment – Changed Down Payment – 3½% (Loan Amount is 96.5% of SP 3½% (Loan Amount is 96.5% of SP or Appraised Value, whichever is less)or Appraised Value, whichever is less)

o Eliminated Seller-funded Down Payment AssistanceEliminated Seller-funded Down Payment Assistanceo Moratorium on Implementation of Risk-Based Premiums – Moratorium on Implementation of Risk-Based Premiums –

protect the borrowerprotect the borrower

www.fha.gov


o Condominium Project Approvals – Condominium Project Approvals – eliminates environmental eliminates environmental reviewreview

o Tax Credit for first-time homebuyersTax Credit for first-time homebuyerso HECM for Purchase – HECM for Purchase – seniors can purchase a home and convert seniors can purchase a home and convert

to HECM in single transaction thus reducing closing coststo HECM in single transaction thus reducing closing costso HECM Maximum Loan Limit - HECM Maximum Loan Limit - $417,000$417,000o HECM Counseling Requirements – HECM Counseling Requirements – only trained and tested only trained and tested

counselors who follow uniform protocolscounselors who follow uniform protocolso Independence of HECM Mortgage Originators – Independence of HECM Mortgage Originators – requires all requires all

parties participating in origination to be approved by FHAparties participating in origination to be approved by FHA o Prohibition against requirements to purchase additional Prohibition against requirements to purchase additional

products as a condition for HECM eligibilityproducts as a condition for HECM eligibility

www.fha.gov


o Energy Efficient Mortgages –Energy Efficient Mortgages – increases amount of home increases amount of home modification costs that can be included in mortgage to 5% of modification costs that can be included in mortgage to 5% of property value property value

o Mfg. Housing (Title I)Mfg. Housing (Title I) – – Raised Maximum Mortgage amounts Raised Maximum Mortgage amounts to:to:

- $25,090 for Repair/improvements- $25,090 for Repair/improvements

- $69,678 Unit- $69,678 Unit

- $92,904 Unit and Lot- $92,904 Unit and Lot

- $23,226 Lot only- $23,226 Lot only

www.fha.gov


o FHA Rescue PlanFHA Rescue Plan – Authorizes a new FHA “Hope – Authorizes a new FHA “Hope for Homeowners” program to refinance existing for Homeowners” program to refinance existing borrowers into fixed-rate FHA mortgage products borrowers into fixed-rate FHA mortgage products (only for loans originated on or before January 1, (only for loans originated on or before January 1, 2008)2008)

o Neighborhood Stabilization ProgramNeighborhood Stabilization Program – State block – State block grant funds to be spent for the redevelopment of grant funds to be spent for the redevelopment of abandoned and foreclosed homes and residential abandoned and foreclosed homes and residential propertiesproperties

www.fha.gov1-800-Call FHA1-800-Call FHA FHA - Serving Homebuyers Since FHA - Serving Homebuyers Since 19341934

What This Means for What This Means for You?You?

o Higher Income Limits, Higher Sales Prices, Higher Income Limits, Higher Sales Prices, Larger Loan AmountsLarger Loan Amounts

o Client and Market ExpansionClient and Market Expansiono More opportunities for the IndustryMore opportunities for the Industryo More business for you!More business for you!

o More Options for More ConsumersMore Options for More Consumerso More Sensible Mortgage ProductsMore Sensible Mortgage Productso Simplification of Lending ProcessSimplification of Lending Process

www.fha.gov

FHA Mortgage Limits

o Established by law and based on the Established by law and based on the Metropolitan Statistical AreaMetropolitan Statistical Area

o Revised on January of each yearRevised on January of each year

https://entp.hud.gov/idapp/html/hicostlook.cfmwww.hud.gov


FHA Programs/ProductsFHA Programs/Products

o 203(b)203(b) - - Fixed Rate/ARMsFixed Rate/ARMs ((most popular) most popular)

--PurchasePurchase

--RefinanceRefinance – – Cash-out (95%)Cash-out (95%)

o 234 (c)234 (c) - - CondominiumsCondominiums

o 203(k)203(k) - - RehabilitationRehabilitation

--StandardStandard

-Streamlined-Streamlined

o HECM for Purchase HECM for Purchase (“Reverse Mortgage”)(“Reverse Mortgage”)

o Energy Efficient MortgageEnergy Efficient Mortgageo HUD Homes - HUD Homes - REOsREOs

o Manufactured HomesManufactured Homes

www.fha.gov

FHA Programs/Products: FHA Programs/Products: Rehabilitation MortgagesRehabilitation Mortgages

Standard (structural)

o Repairs/Improvements must be at least $5,000

o Consultant requiredo Architectural Exhibits

requiredo Borrower can make

repairs/improvements if qualified

Streamlined (minor)

o Facilitate uncomplicated repairs/improvements

o No consultant requiredo No architect requiredo Borrower can make

repairs/improvements if qualified

o Include up to $35,000

www.fha.gov

FHA Programs/Products: FHA Programs/Products: Home Home Equity Conversion Mortgage Equity Conversion Mortgage

(HECM)(HECM)

o Borrower – seniors age 62 or moreo Reverse Mortgage counseling requiredo Property – 1-4 family dwellings, existing onlyo Owner–Occupied only; within 60 days from closingo FHA’s Property Flipping prohibitions applyo Repayment not required until home is no longer occupied

by borrower (nursing home, death). At that time, if the value has declined so that there is insufficient equity to repay FHA, then FHA will take the loss. If the value has increased over and above what is owed to FHA, that excess will be distributed to the heir(s).

www.fha.gov

FHA Programs/Products: FHA Programs/Products: Energy Efficient Mortgage Energy Efficient Mortgage

(EEM)(EEM)

o Eligible for new or existing 1-4 family unitso Maximum Loan in Area Can Be Exceeded by the EEM

Amounto Eligible for use with Rehabilitation Mortgages (203K)o Available for Condos and Manufactured Homeso Cost of improvements that may be eligible for financing is

either 5% of the property’s value (not to exceed $8,000) or $4,000, whichever is greater.

www.fha.gov

HUD HOMES

www.fha.gov

Selling HUD Homes Selling HUD Homes

o What are HUD Homes?What are HUD Homes?o Register to Sell HUD Homes Register to Sell HUD Homes o Electronic Internet BiddingElectronic Internet Biddingo Current Listings Current Listings o Management & Marketing ContractorsManagement & Marketing Contractors

www.fha.gov

What Are HUD Homes?What Are HUD Homes?

o HUD-owned houses are often referred to as “HUD Homes.” HUD Homes are houses that had an FHA-insured mortgage and the homeowner defaulted. The lender then deeded the home to the Secretary of HUD in exchange for an insurance claim payment.

www.fha.gov

It’s Easy to Sell HUD It’s Easy to Sell HUD HomesHomes

o Brokers can register with HUD’s M&M Contractor for Florida properties, National Home Management Solutions through their website, www.nhmsi.com

o Once completed, the broker can show, advertise, and submit offers on HUD Homes

o HUD pays the broker a commission of up to five (5) percent

o HUD-registered brokers and their agents are able to submit bids 24/7 over the Internet. Electronic bidding is the only method to submit bids for HUD Homes

www.fha.gov

www.fha.gov

How to Become a HUD-Approved Lender

FHA Lender Approval Types:(Six Types of FHA Lenders)

o Nonsupervised Loan CorrespondentMortgage Broker, Mortgage Lender or

Correspondent Lender

o Nonsupervised MortgageeMortgage Lender & Correspondent Lender

o Supervised MortgageeBanks and Credit Unions

www.fha.gov

How to Become a HUD-Approved Lender

o Supervised Loan CorrespondentBanks and Credit Unions

o Investing MortgageeEntities that only want to own FHA loans

o Government MortgageeFederal, State and Local Agencies

www.fha.gov

Ways Lenders Can Participate in FHA Loan Programs

o Originate

All lender types can originate except Investing Mortgagees

o Underwrite Single Family Loans

Supervised, Nonsupervised and Government Mortgagees can underwrite once they obtain DE (Sponsor Mortgagee) approval from one of the Single Family Homeownership Centers

www.fha.gov


o Underwrite Mutifamily Loans

Supervised, Nonsupervised and Government Mortgagees can underwrite once they obtain MAP approval from Multifamily Headquarters

o ServiceSupervised, Nonsupervised and Government

Mortgagees can service all types of loans.o Hold

All types of lenders can hold (own) except Loan Correspondents

www.fha.gov


Non-supervised Loan Correspondent o Only one for mortgage brokers to originateo Correspondent lenders and mortgage lenders

who only want to originate

Non-supervised Mortgageeo In addition to origination: can underwrite,

service and own any type of FHA loan

www.fha.gov


Supervised Loan CorrespondentFor banks, savings bank and credit unions that only want to originate FHA loans

Supervised MortgageeFor banks, savings bank and credit unions that want to originate, underwrite, service and own any type of FHA loan.

www.fha.gov


Government MortgageeGovernment agencies that want to originate, underwrite, service and own FHA loans

Investing Mortgagee Any entity that only wants to own FHA insured loans

www.fha.gov

How to Become an FHA-Approved Lender

o The FHA lender approval requirements vary from different levels and types of lender participation

o The first step is to obtain an application package:– Title II Lender Application Package (for home purchases, refinances and reverse mortgages)

– Title I Lender Application Package (for home improvement loans)

www.fha.gov

Title II Mortgagee Application Package

o Cover Sheet - Payment of Title II mortgagee application fee - $1,000 fee except for Gov’t mortgagee

o Application Form for lender approval - HUD 11701

o Handbook 4060.1 - Approval requirements & procedures

www.fha.gov

Title II Lender Application Package – Cover Sheet

APPLICATION FEE for TITLE I LENDER APPROVALThis form MUST accompany all application fee payments. Mail this form and yourcheck to: HUD, P. O. Box 198608, Atlanta, GA 30384. A copy should be included withyour application.____________________________________________________________ Lender Name________________________________________Federal Tax Identification Number - 10digit_______________________________________ HUD/FHA Identification Number - 10digit(if applicable)Type of application: (please check the appropriate box)_____ Initial Application ($1,000)_____ Additional Branch ($300)_____ Additional Sponsor ($300)_____ Conversion of Mortgagee Type ($300)Lenders seeking first time approval (initial applications) must enter their federal taxidentification number in the memo portion of the check. Lenders filing all other typesof applications should put their 10 digit HUD/FHA identification number in the memoportion of the check.

www.fha.gov

Form HUD-11701

Application for Approval: FHA Lender and/or Ginnie Mae Mortgage-Backed Securities Issuer U.S. Department of Housing and Urban Development

Federal Housing Administration and Government National Mortgage Association

OMB Approval No. 2503-0033 (exp. 09/30/2010)

Public reporting burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. The information requested on this form is required by 24 CFR Part 202 and Sec. 306(g) of the National Housing Act or by HUD Handbooks 4060.1 and 5500.3. The information collected assists FHA and Ginnie Mae in determining which lenders should be approved to participate in the FHA single and multifamily insurance programs and/or the Ginnie Mae Mortgage-Backed Securities Program. It is used to help FHA minimize its risk in insuring single-family and multifamily mortgages and Ginnie Mae to minimize its risk. Applicants are not required to respond to this collection of information unless a current OMB approval number is displayed on the form. Privacy Act Statement. Names and Social Security Numbers are requested in order for the Department to obtain positive identification of the applicant’s officers, directors, stockholders and employees who have authority to obligate the applicant. The information requested will be used solely to determine the eligibility of the individuals to participate in the Department’s mortgage insurance programs. The Department is authorized to request this information by Executive Order 9397. The information collected will not be disclosed outside the Department except as required by law. The Social Security Numbers are provided to HUD on a voluntary basis. Failure to provide this information could cause delay in processing of the applications.

Instructions for Completing Form HUD-11701 Applicants seeking qualification as a FHA-approved lender/mortgagee or loan correspondent under the Title I and/or Title II programs and/or as an approved issuer with the Government National Mortgage Association (“Ginnie Mae”), must complete the appropriate sections of this form. Qualified applicants may obtain one of the following three types of approval:

1. FHA Approval Only

Replaces HUD-92001, 92001-D and LD Page i form HUD-11701 (11/2008) ref. Handbooks 5500.3, Rev. 1 and 4060.1

www.fha.gov

FHA Title II Mortgagee Approval Handbook 4060.1,

REV-2

Chapter 2 - Part A. Requirements for all Mortgagees

Acceptable Business Forms

o Be a Corporation, Limited Liability Company (LLC) or Partnership that meets FHA’s Requirements

o Have State License, State DBA, if applicable

www.fha.gov

General FHA Approval Requirements

Owners and Officers

o Cannot be debarred, suspended or otherwise ineligible (Certify via Sanction Letter)

o 3 years of experience required (at least one officer)

o Cannot be self employed in the mortgage or real estate industry or related field

www.fha.gov


Staffing

o At least two full time employeeso A shared receptionist is permitted but cannot

be used to meet this requiremento All employees (except shared receptionist)

must be paid by W-2o No outside or self employment in the

mortgage or real estate industry or related field

www.fha.gov


Office Facilities

o Must be separate and apart from any other entity in commercially zoned space

o Can share reception areas with other companies

o Must be clearly identified to the public with a permanent business sign

www.fha.gov


o Quality Control Plan except Investing Lender

o Audited Financials and Adjusted Net Worth

www.fha.gov

Net Worth Requirements For Nonsupervised Applicants

o $63,000 Net Worth for Nonsupervised Loan Correspondents (20% must be Liquid Assets)

o $250,000 Net Worth for Nonsupervised Mortgagees (20% must be Liquid Assets)

www.fha.gov

Funding Requirements For Nonsupervised Applicants

o Documented $1,000,000 funding program for its originations

o Loan Correspondent applicants may provide a funding letter from their Sponsoring Mortgagee

www.fha.gov

Additional Requirements For Loan Correspondents

o Must Have a Sponsoring (DE) Mortgagee to Underwrite the Originations

o Sponsor (DE) can also fund the Originationso A sponsor of a loan correspondent must be a DE

mortgagee. The sponsor is responsible for the actions of each of its loan correspondents in originating FHA-insured mortgages

o A sponsor must supervise and perform quality control reviews of each of its loan correspondents

www.fha.gov

Application Submission

o The application form 11701 has all the information on what is required for each type of approval

o Application fee and copy of the application are sent to the Atlanta Office. Application is sent to the Lender Approval and Recertification Division in Washington, DC

o Currently it is taking 60 days to process an application

www.fha.gov

FHA Lender Approval Common Mistakes

o HUD Form 11701 sections A, B, C and Supplemental must be COMPLETE, CONSISTENT and ACCURATE

o Note application and application fee go to two different places

o Evidence of acceptable facilitieso Branch Office - remember you must have at least

one full time employee in each brancho Credit reports are missing in application packageso Credit reports are needed by all except supervised

institutions

www.fha.gov

FHA Lender Approval Common Mistakes

o Audited financials, most current CPA prepared audited financial statements for the period ended not more than 12 months prior to submission of the application

o Review for Fair Lending Issues/Complianceo Fair Housing Acto (ECOA) Equal Credit Opportunity Acto (TILA) Truth In Lending Acto RESPAo Home Mortgage Disclosure Act

www.fha.gov

FHA Lender Approval Common Mistakes:

Quality Control (QC)

QC Plan deficient (Don’t just buy a plan)

“All FHA approved mortgagees, including loan correspondents, must implement and continuously have in place a Quality Control Plan for the origination and/or servicing of insured mortgages as a condition of receiving and maintaining FHA approval.”

o Quality Control for SF Origination, SF Servicingo Quality Control from Beginning to End

www.fha.gov

Quality Control (QC) Goals

Mortgagees must design programs that meet these basic goals:

o Assure compliance with FHA’s and the mortgagee’s own origination or servicing requirements throughout its operations

o Protect the mortgage and FHA from unacceptable risko Guard against errors, omissions and fraudo Assure swift and appropriate corrective action

Failure to comply with specific QC requirements may result in sanctions and the imposition of Civil Money Penalties by the Mortgagee Review Board.

www.fha.gov

Basic Elements of QC

o Plan Form and Executiono Independence – In-house staff, outside firmso Qualified Staffo Timelinesso System of Loan File Reviewo Adequate Scope and Samplingo Site Review – Items, frequency, staffingo Affiliate Review by Sponsorso Reporting and Corrective Actiono Notification to HUDo File Retentiono Restricted Participation

www.fha.gov

Helpful References

o How to Become a FHA Lender web page:

http://www.hud.gov/offices/hsg/sfh/lender/lendappr.cfm

o Annual Renewal Requirements at:

http://www.hud.gov/offices/hsg/sfh/lender/renewal.pdf

www.fha.gov

Other Resources

www.fha.gov

Current ListingsCurrent Listings

Listings of HUD Homes are available through:

www.hud.gov/homesMLSM&M Internet siteswww.homesales.gov

1-800-Call FHA1-800-Call FHA FHA - Serving Homebuyers FHA - Serving Homebuyers Since 1934Since 1934


Help for Your BuyerHelp for Your Buyer

o HUD Home Buying Guideo Housing Counselingo Increased FHA Mortgage Loan

Limits


Helpful Resources – Helpful Resources – fha.govfha.gov


hud.govhud.gov

3


Contacting FHAContacting FHA

Websites FHA Call Centerwww.fha.gov 800-Call FHA www.hud.gov Live Web Chatwww.espanol.hud.gov TBAwww.fhaoutreach.gov/fhafaq

Locate a Housing Counselor800-569-4287

To Sign Up on FHA’s List [email protected]

www.fha.gov

FHA’s Commitment to FHA’s Commitment to Our PartnersOur Partners

o FHA’s goal is to provide Safe and Affordable Mortgage Products that Support Sustainable Homeownership

o FHA recognizes the Key Role the Real Estate Professional and the Mortgage Brokers play in the Mortgage Finance Industry

1-800-Call FHA1-800-Call FHA FHA - Serving Homebuyers FHA - Serving Homebuyers Since 1934Since 1934

www.fha.gov

Selene ProenzaCustomer Liaison

FHA-Office of Business DevelopmentUS Department of Housing & Urban Development

Miami Field Office909 SE First AvenueMiami, Fla. 33131

Phone: (305) 520-5066Fax: (305) 536-4916

[email protected]

fha update

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