AllRegs Helps Lenders Learn Rules of FHA Lending.(Special Report)(Federal Housing Administration)

Byline: Anthony Garritano

Eagan, MN-Given the resurgence in FHA, every lender wants to tap this market, but some don't know how. In order to help lenders, AllRegs here has launched an FHA help hotline.

Congress, HUD and FHA continue to make changes to loan programs and guarantees available to Americans purchasing homes. AllRegs has created a service to support the increased growth of homeownership through FHA loan programs. Known as the AllRegs FHA Hotline, this service is being made available to support the industry at a time when FHA business is growing exponentially and organizations are looking for resources to get them in the game.

The AllRegs FHA Hotline will provide answers to questions about the FHA program, program changes, how to become an FHA lender, business advice on what to do with borrowers as it applies to the FHA program, interpretation of the regulations and interpretation of the new law signed recently by the president. Advice on operational details with regard to FHA loans, processes, downpayments and other matters will be provided.

"FHA is more than reading from the manual," said Dan Thoms, senior vice president of AllRegs. "This is about a lender calling in to say that they have a customer with 5% that wants to know how to get that customer into FHA. We think this hotline will be a wrap around to training. This will be about business advice. I think this is a game changer. FHA needs help and they know it.

"We'll sell hourly subscriptions to the hotline for smaller companies. We'll also offer an enterprise subscription where we authorize that these 100 users at the ...