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HUD to Expand 'Credit Watch'.(Department of Housing and Urban Development)(Brief Article)
The Department of Housing and Urban Development wants to expand its Credit Watch program for automatically terminating bad lenders to include wholesalers who are involved in making Federal Housing Administration-insured loans.
Under the Credit Watch program, HUD tracks loan performance and will terminate a lender's main office or branch office if a default/claim rate is 250% higher than its peers in the same geographic area.
But now HUD wants to apply Credit Watch sanctions to wholesalers and other direct endorsement lenders who underwrite and approve FHA loans from remote offices.
The proposed rule would "establish that the default and claim thresholds underlying the Credit Watch/Termination Initiative apply to both underwriting and originating mortgagees," HUD says in its semi-annual ...
- HUD Steps Up Credit Watch.(U.S. Department of Housing and Urban Development)
- Magazine article from: Mortgage Servicing News Schulman, Phillip March 1, 2003 700+ words
...developments in the FHA credit watch program. In an effort...Department of Housing and Urban Development reviews the rate of...gradually reduce the credit watch termination threshold...the department's credit watch termination initiatives...
- HUD to 'Watch' Wholesalers?(Department of Housing and Urban Development)
- Magazine article from: Origination News Collins, Brian December 30, 2002 700+ words
...Department of Housing and Urban Development wants to expand its Credit Watch program for automatically...insured loans. Under the Credit Watch program, HUD tracks loan...now HUD wants to apply Credit Watch sanctions to wholesalers...
- HUD Expands Credit Watch.
- Magazine article from: Origination News Collins, Brian February 1, 2005 700+ words
...Department of Housing and Urban Development has expanded its Credit Watch program so that wholesale...flipping rule. Currently, Credit Watch only applies to FHA originators...and phase in the new Credit Watch standard so that wholesalers...
- WATCH OUT FOR Credit Watch.(standards for FHA lenders)
- Magazine article from: Mortgage Banking SCHULMAN, PHILLIP L. October 1, 1999 700+ words
...individually under the Credit Watch Program, and the program...Department of Housing and Urban Development (HUD) as part of its Credit Watch Program. If you got caught...HUD standards. The new Credit Watch Program is being used...
- Home Builders Are Upset with FHA's 'Credit Watch' Actions.
- News wire article from: Mortgage Line August 19, 2004 700+ words
...Housing Administration's Credit Watch program and they want the...privileges suspended under the Credit Watch program. Earlier this...Department of Housing and Urban Development released a new list of Credit Watch actions, which included...
- Home Builders Are Upset with FHA's 'Credit Watch' Actions.(Federal Housing...
- Magazine article from: Mortgage Servicing News August 2, 2004 700+ words
...Housing Administration's Credit Watch program and they want the...privileges suspended under the Credit Watch program. Earlier this...Department of Housing and Urban Development released a new list of Credit Watch actions, which included...
- FHA Restarts Credit Watch Terminations.(Brief Article)
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management COLLINS, BRIAN January 17, 2000 700+ words
...Department of Housing and Urban Development is issuing a second round of "Credit Watch" terminations now that...with all aspects of Credit Watch which includes finalizing...commission William Apgar. Credit Watch is a computer system...
- Credit Watch Has FHA Lenders Tightening Loan Standards.
- Magazine article from: National Mortgage News January 10, 2005 700+ words
...getting caught under the Credit Watch program are not all...Department of Housing and Urban Development placed the San Antonio...Mortgage Co. on its Credit Watch list for having a...Inc. got caught by Credit Watch, which is forcing...
Source: HighBeam Research, HUD to Expand 'Credit Watch'.(Department of Housing and Urban...