FHA
HUD APPROVES $36.6 MILLION FINANCING PLAN TO EXPAND AND REFINANCE HAYES GREEN BEACH MEMORIAL...
WASHINGTON, DC - September 23, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced a commitment to insure a mortgage loan to Hayes Green Beach Memorial Hospital in Charlotte, Michigan. The $36.6 million loan is made possible through the Federal Housing Administration's (FHA) Section 242 Hospital Mortgage Insurance Program.
OFIR Orders National Mortgage Company to Stop Doing Business in Michigan
LANSING, MI - August 13, 2009 - (RealEstateRama) -- The Office of Financial and Insurance Regulation (OFIR) has ordered Taylor, Bean & Whitaker Mortgage Corp., a national mortgage company, to immediately cease and desist from operating as a mortgage lender or servicer in Michigan. The Federal Housing Administration (FHA) suspended Taylor Bean’s approval to make FHA loans and the company’s status as an approved Freddie Mac and Ginnie Mae mortgage servicer was terminated due to questionable business practices and disclosures. Last week, federal investigators raided Taylor Bean’s headquarters in Ocala, F
HUD/Site Condo Update
June 18, 2009 - (RealEstateRama) — The Michigan Association of REALTORS®, along with many other state REALTOR® associations, has received many questions and concerns regarding site condominiums and FHA loan approvals. Recently, HUD released Mortgagee Letter 19 on the Condominium Approval Process for single family housing. Included in the letter is guidance on how to treat site condominiums. Under the letter, site condos do not need to be approved as condo projects, but FHA loans for site condos still need to include a condominium rider in the loan package for insurance endorsement
Stabenow: Housing Legislation will Help Keep Michigan Families in Their Homes
WASHINGTON, DC - May 12, 2009 - (RealEstateRama) — U.S. Senator Debbie Stabenow (D-MI) today praised the Senate’s bipartisan passage of the Helping Families Save Their Homes Act of 2009. The bill makes it easier for homeowners and lenders to work together to prevent foreclosures.“Families across our state continue to struggle every day to make their mortgage payment while trying to make ends meet,” said Stabenow. “This much-needed legislation will help homeowners already making great sacrifices to keep their part of the American dream.”
