August 5, 2010

 

 

As I have previously stated in my testimony before Congress, FHA will lower its upfront premium simultaneously with the increase to the annual premium¹. It is our intention that effective on September 7, 2010, FHA’s upfront mortgage insurance premium will be adjusted down to 100 basis points on all amortization terms and the annual mortgage insurance premium will increase to 85-90 basis points on amortization terms greater than 15 years². A Mortgagee Letter will be forthcoming once President Obama signs the bill into law, but with today’s passage of H.R. 5981 and our expedited implementation schedule, I wanted to immediately inform the industry of our plans so the lending community can begin preparing for the operational and system changes required to implement FHA’s new mortgage insurance premium structure on all new case numbers by September 7, 2010.

 

With this authority, FHA is in a better position to address the increased demands of the marketplace and return the MMI fund to congressionally mandated levels without disruption to the housing market.

 

While we appreciate and applaud this recent action, there is still work to be done. HUD remains steadfast in its commitment to comprehensive FHA reform legislation, similar to the FHA Reform Act passed earlier this year by the House, which would further enhance FHA’s lender enforcement capabilities and risk management efforts. We hope Congress will take swift action to pass a broader FHA reform bill when they return from the August recess. FHA’s risk management efforts will not be complete without the ability to monitor lender performance and ensure compliance with our rules.

 

Although the transition timeframe is short, implementation by September is critical. Thank you in advance for the efforts of you and your organization to make this change happen on such short notice. We appreciate your hard work and continued partnership.

 

¹The upfront and annual premium changes do not apply to the following FHA Programs: Title I, HECM, HOPE for Homeowners (H4H), Section 247 (Hawaiian Homelands), Section 248 (Indian Reservations), Section 223 (e) (declining neighborhoods), Section 238(c) (Military Impact areas in Georgia and New York).

² LTV’s <= 95% will increase to 85bps and LTV > 95% will increase to 90 bps"

 

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North Redington Beach FL – Wide, open water canal behind this Waterfront house. Sailboat deep, skiing allowed. Located in prestigious subdivision. Walk to beach, fine shops and restaurants. Community park, playground & lighted tennis courts. Lovely home has beautiful heated pool in screened enclosure. Dock and 10,000+ lb aluminum boat lift. Photo Voltaic solar electric system – 22panels run household electric/A/C/hot water. Last month's electric bill was $50 – the month before $20.! Many additional improvements made in recent years. All new windows w/ hurricane panels (02) new floors (05) New roof /soffit/ fascia (09). Great water front North Redington Beach FL Homes For Sale

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Email us today if you are thinking of buying or selling your home or condo in Clearwater FL, or any of these other local cities: Dunedin FL, Safety Harbor FL, Palm Harbor FL, Largo, Seminole, Tarpon Springs, Clearwater Beach FL, Belleair Beach, Indian Rocks Beach, Indian Shores, Redington Shores, North Redington Beach, Redington Beach, Madeira Beach, Treasure Island or St Pete Beach.

If you’re looking for a Realtor we’d like you to know that we are passionate about being your real estate advocate. We’re committed to delivering Results based on Integrity, Knowledge & Experience – helping you find the perfect home or condo – just ask.

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Clearwater Beach FL – Magnificent southwest Gulf Views and Lights Of Sand Key From living room, dining room, kitchen and balcony. Also see gulf side pool from balcony. Watch boats go by on the gulf. Furnished by an interior decorator. Excluding: TV In living room. Upgrades include: replaced kitchen cabinets with center opening in upper cabinets. Tiled countertops. Bath and vanity doors replaced. Resurfaced bath countertops. Bath lighting replaced. Sinks, faucets and shower doors replaced. Customized closets and customized wall units. Upper level garage parking Space. Some units do not have garage space. Security guard 24/7 in this renovated building. Gated community in the heart of new beach walk. Amenities: Exercise, Sauna, Billiard, and Card/Party Room. Heated Pool. Many Planned Social Activities. Walk To Beach, Restaurants, Shops, Pier 60, Playground, and More. Must See This 2-bedroom beach front Mint Clearwater FL Homes For Sale Beach Condo.

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Email us today if you are thinking of buying or selling your home or condo in Clearwater FL, or any of these other local cities: Dunedin FL, Safety Harbor FL, Palm Harbor FL, Largo, Seminole, Tarpon Springs, Clearwater Beach FL, Belleair Beach, Indian Rocks Beach, Indian Shores, Redington Shores, North Redington Beach, Redington Beach, Madeira Beach, Treasure Island or St Pete Beach.

If you’re looking for a Realtor we’d like you to know that we are passionate about being your real estate advocate. We’re committed to delivering Results based on Integrity, Knowledge & Experience – helping you find the perfect home or condo – just ask.

We’d like to be YOUR

We specialize in luxury and waterfront condos and homes!

Call Jack @ 727710.8036 or Cyndee @ 727.710.8035

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Tarpon Springs FL – Gulf access, waterfront 2004 custom house. Water ski, swim, canoe from your backyard. This home features a private dock and boat lift with remote. This fabulous 2712 sq ft home is very spacious with open floor plan, boasts 3-bedrooms and 2.5-bathrooms. Watch manatees and dolphins from the 34X19 huge covered lanai, perfect for entertainment or your personal enjoyment. Brick paved driveway and entrance. Step into the spacious foyer where you will be welcome by stunning Brazilian cherry hardwood floors, 19' soaring coffered ceiling in the great room with a wood burning fireplace. In wall pest control. Spacious kitchen custom cherry cabinets, stainless steel appliances, granite countertops, wine/beverage center in island, formal dinning room. Master suite on main level, large walk in close, double sinks w granite countertops and view to canal. Second floor features spacious loft, bonus/game room with lighted built in entertainment center and wet bar. You can view from great room, kitchen, dinette and master suite the bayou, access the gulf in no time for your favorite water sports or just to relax. This fantastic Tarpon Springs FL Homes For Sale awaits you.

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Ask us for a Market Survey for Your Property – Find Out What Your Home is Worth.

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Email us today if you are thinking of buying or selling your home or condo in Clearwater FL, or any of these other local cities: Dunedin FL, Safety Harbor FL, Palm Harbor FL, Largo, Seminole, Tarpon Springs, Clearwater Beach FL, Belleair Beach, Indian Rocks Beach, Indian Shores, Redington Shores, North Redington Beach, Redington Beach, Madeira Beach, Treasure Island or St Pete Beach.

If you’re looking for a Realtor we’d like you to know that we are passionate about being your real estate advocate. We’re committed to delivering Results based on Integrity, Knowledge & Experience – helping you find the perfect home or condo – just ask.

We’d like to be YOUR

We specialize in luxury and waterfront condos and homes!

Call Jack @ 727710.8036 or Cyndee @ 727.710.8035

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Clearwater Fl – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.69 percent with an average 0.7 point for the week down from last week when it averaged 4.75 percent. Last year at this time, the 30-year FRM averaged 5.42 percent. “Mortgage rates for all but traditional 1-year ARMs hit all-time record lows this week in our survey while activity in the housing market slowed in May following the expiration of the homebuyer tax credit,” said Frank Nothaft, Freddie Mac vice president and chief economist

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We’d like you to know that we are passionate about being your real estate advocate. We’re committed to delivering Results based on Integrity, Knowledge & Experience – helping you find the perfect beach house or condo– just ask.

We’d like to be YOUR Clearwater Real Estate Team – specializing in luxury waterfront homes and condos!

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