How much FHA work is out their?

[Ed]

I've been a trainee since 2002 & State Certified since June 2005. Debating on getting FHA certified. Reasons... Lenders offering so many 100% financing programs is FHA losing it's punch?. No need for VC sheets, has the safety and security of the borrower long gone? FHA lost a larger amount of the market share in the last few years due to low fixed rates, so now I'm assuming that the new FHA rules and proceedures are a result of LOST MONEY not safety, security and sale ability.

Still wrestling with the FHA thing. Thoughts of others are appreciated.

 

[TC]

Since the rules have been relaxed, I have seen an uptick in FHA orders. HUD was losing market share and decided to do something about it. You still have to do more of an inspection than you would on a conventional appraisal, so I would recommend that you work with an experienced FHA appraiser after you pass the HUD exam.

TC

 

[Marcia Langley]

Ditto TC. I notice a slight uptick as well.

I'd encourage you to get on the roster.

 

[Mr Rex]

And to add to TC & Marcia's post. What do you have to lose by adding another club to the bag or by increasing your knowledge set?

 

[Jungle Boy]

Are there annual dues to pay once on the roster ?

 

[Mr Rex]

Raimo, you do have to pay the extra fee to be on the federal roster, but its $45 annually and you may not be eligible for other transactions if you don't join the federal registry.

 

[TC]

but its $45 annually and you may not be eligible for other transactions if you don't join the federal registry.

News to me, I've never cut a check for that, hope I'm not in violation. Just inspected 5 FHAs in the last week, the lowered requirements are making an impact in my area.


TC

 

[Mr Rex]

TC, in NC you have the option of joining the national registry or not. $45 extra clams to be "Natinal Compliamt" and join the "national registry" Can't do FHA without the National "registration"

 

[TC]

It's possible that the fee is "included" in my PA license.

TC

 

[Jungle Boy]

thanks for the info guys