The U.S. Justice department sued quicken loans thursday alleging. its employees to disregard FHA rules and falsely certify compliance with underwriting requirements in order to reap the profits.
The basic requirements of a streamline refinance are: The mortgage to be refinanced must already be FHA insured. The mortgage to be refinanced must be current (not delinquent). The refinance results in a net tangible benefit to the borrower. The definition of net tangible benefit varies based on.
· FHA Loans in 2015: Changes, Requirements, Rate Forecasts and More. To support these “over-the-horizon” buyers, the Home Buying Institute is publishing a series of updates for 2015. This update includes 2015 FHA loan requirements and guidelines, along with a 12-month rate forecast provided by Freddie Mac.
Under a key policy change that took effect last week, lenders nationwide now have more leeway to approve mortgages to borrowers who qualify under FHA’s underwriting guidelines but may have below-par.