Blog of the Mortgage

October 8th, 2008 9:13 PM
This e-mail is a heads up reminder Checklist and will start off a new series of more important e-mails geared even more specifically at you and your business for the next quarter, 6 months or longer. These mails will contain tips, ideas and other pertinent pieces that will, if nothing else, spurr your imagination or personal idea department.
Today I'm covering:

Checklist for October - Getting in Compliance
  1. New DRE MLDS Forms 882 - 883 - 885 know them & make sure your clients sign them - they required with EVERY transaction.
  2. FHA UFMIP Goes up to 1.75% for case numbers after 10-1-08 (regardless of LTV)
  3. FHA Monthly MI goes up to .55% for case numbers after 10-1-08 (LTV's over 95% - for <95% .50 monthly).
  4. FHA Requires new form 92900-LT to replace 92900-A (MCAW)
  5. Hope for HomeOwnership Debuts 10-1-08
  6. PMI Requires 720 Fico for >80% LTV in CA
  7. PMI requires DTI of 45% >80% LTV in CA
  8. GE/Genworth requires DTI of 41% for All loans
  9. GE/Genworth requires 720 score for all loans
  10. Radian MAX LTV is 90% (the official death of FNMA 95% in California)
  11. Build a Linked-In Account & ask your previous customers for referrals
  12. Build a FaceBook account to interact with people in your area
  13. Send your appraiser our Appraisal requirements
  14. Print out a copy of my Team's Photos

You'll need the following links to download these forms:

Go out and have fun!
Posted by Raoul Badde on October 8th, 2008 9:13 PMPost a Comment (0)
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