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Mortgage Lending News Click to continue . . .
• Inlanta Mortgage adds FHA 203(k) program
Inlanta Mortgage has announced that it is now offering 203(k) loans and that it has hired an expert to assist borrowers with this specialized program. Cassy Humberger has joined the company as branch manager and is working out of Inlanta Mortgage’s Carmel, Ind. office. “With the number of foreclosures on the market, especially those homes that need a little fixing up, an FHA 203(k) loan is an excellent program,” said Jean Badciong, chief operating officer at Inlanta Mortgage.
NationalMortgageProfessional.com,NMP Media Services, 11/06/2009
• Obama inks first-time homebuyer tax credit extension legislation
U.S. President Barack Obama has signed into law, HR 3548, the Worker, Homeownership and Business Assistance Act of 2009. The bill extends the present $8,000 tax credit for first-time homebuyers through April 30, 2010. Current homeowners are eligible for a $6,500 tax credit through April 30, provided they have lived in the home they are selling, or have sold, as principal residence for five consecutive years in the past eight years. If potential homebuyers have a binding contract on or before that date, they will have until July 1 to close the transaction.
NationalMortgageProfessional.com,NMP Media Services, 11/06/2009
• Two Forces Join to Launch National Residential Receivership Program
An award-winning specialty servicer and a national attorney group have teamed up to create a program aiming to help lenders comply with foreclosure legislation. The goal of the program is to provide lenders, investors, and servicers solutions to the problems arising from the Protecting Tenants at Foreclosure Act (PTFA).
DSNews.com,Admin, 11/06/2009
• Citi Blacklists over 800 Brokers and Mortgage Originators
Some mortgage brokers and mortgage banking correspondents looking to do business with CitiMortgage, Inc. may have the door slammed in their face. The lender has put 840 loan originators on its Ineligible Originators list, according to the industry newsletter service MortgageDaily.
DSNews.com,Admin, 11/06/2009
• FHA Delays Annual Financial Audit
The Federal Housing Administration (FHA) was scheduled to disclose a highly anticipated independent annual audit of its finances this week, but at the last minute, the agency announced that the release of the findings would be postponed.
DSNews.com,Admin, 11/06/2009
• Webster To Make Presentation At Investor Conference
City; WATERBURY, Conn.
Webster Financial Corporation,Ed Steadham, 11/06/2009
