July 1st is approaching fast and that is the deadline for Arizona Mortgage Loan Originators who do not work for big Interstate Chartered Banks to obtain their Loan Originator License which is mandated by the Secure and Fair Enforcement for Lending. Act of 2008.
In other words, if your Loan Officer does not work for a big [...]

photo credit: Nicholas_TI just received confirmation from one of our investors that it looks like that funding for the USDA Guaranteed Rural Housing Program is back!
“In view of the information we have received today from USDA Rural Development regarding the Agency’s ability to issue loan approvals (Conditional Commitments: RD Form 1980-18) that are subject [...]

photo credit: Allie_CaulfieldUSDA is out of Funds – No conditional commitments!
Times are turbulent in the mortgage business and the latest news about whether  or not the USDA has funds left, and also if the USDA will be able to continue to fund (subject to conditional commitments) is just another example that things are constantly [...]

photo credit: visualpanicPhoenix Mortgage News: USDA Home Loan Funds will Continue
First the Good News! I just got word that the USDA Home Loan Program will continue.
The not-so-good news however is that the currently available USDA  funds are running very low and perhaps there is one or two more days left for the old allocation.
Once [...]

photo credit: openDemocracyArizona USDA Home Loans Mortgage Update!
Yesterday, USDA funds were already below the one-billion-mark and apparently the money is going fast.  I found out this morning that USDA is expecting to run out of funds next week  (May 7th 2010).
Even though a bill was passed in the House of Representatives to appropriate [...]