Mortgage Daily Logo
mortgage news from industry experts

Help for Originating FHA Loans


Help for Originating FHA LoansRecent FHA service offerings

November 5, 2008


A wholesale lender and a consulting firm are offering help for mortgage companies seeking approval to originate loans insured by the Federal Housing Administration. Online training is now available for originating FHA loans through a popular loan origination system, while another offering provides production support for reverse mortgages.

Prysma Lending Group LLC claims that its in-house funding and document preparation enables it to close FHA loans for its mortgage brokers faster than other wholesale lenders. The company — which says it lends in Connecticut, Florida, Georgia, New Jersey, Texas, Virginia and South Carolina — suggests it may be able to help mortgage brokers that are not FHA approved.

Compliance Consulting Corporation of Florida is promoting its ability to help mortgage companies obtain approval to originate FHA loans. The company claims that 95 percent of applications submitted to HUD are declined. But it promises to improve the likelihood of approval through its application kits that explain the approval process and provide examples.

Calyx Software is now offering online training for originating FHA loans on its Point LOS. The $39.95 program includes a 90-minute live Webinar and a New FHA Regulations video.

Visionet announced yesterday the revival of a refinance service in response to the HUD’s Hope for Homeowners bailout plan for the mortgage industry. VisiRetention, which can be up-and-running within four to six weeks, proactively targets troubled borrowers who qualify for the H4H program.

HUD has approved BankUnited Financial Corp. as an FHA lender, an announcement last week said. The Coral Gables, Fla.-based company highlighted its ability to provide FHA Secure refinances.

Titan Lenders Corp. announced last month a partnership with Bay Docs Inc. that will provide outsourcing and documents for home-equity conversion mortgages. The new service promises to take over the HECM process after the originator completes required counseling.

Services in the Titan-Bay offering include state specific initial disclosures and vendor management. The HUD package, including HECM compliant documents, are suitable for 20 servicers. The funding and forwarding of the case binder to HUD are also part of the package.

next story

back to current headlines

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts