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Important Notification

Dear Valued Partner,

On January 28, 2011 HUD released a notice announcing an extension to the Property Flipping Waiver. This wavier due to expire February 1, 2011 will now be available until December 31, 2011.

Your borrowers may now obtain an FHA loan on properties acquired by the Seller within the previous 90 days. Please refer to HUD’s current notice at the link below for complete details:

http://www.hud.gov/offices/hsg/sfh/currentwaiver.pdf

  1. This waiver is available for all transactions where the Purchase Contract has been executed on or after February 1, 2010.
  2. This waiver does not apply to Reverse Mortgage (HECM) transactions.
  3. Please check our rate sheets for pricing on loans that carry this 90-Day Flipping Rule waiver

If you have any questions, please feel free to call on your Account Executive at (800) 453-7884.

Sincerely,

Sun West Mortgage Company, Inc.
18303 Gridley Road
Cerritos, CA, 90703

Equal Housing OpportunityThis information is provided as information for licensed wholesale brokers only and may not be copied or distributed to customers or potential customers. All loans subject to approval. Certain restrictions may apply. Program Rates, Prices, Guidelines, Fees, Costs, terms and Conditions are subject to change without notice.

Sun West Mortgage Company, Inc. (NMLS ID 3277) is licensed by the Department of Corporations as a California Finance Lender (License #603 0119) and is licensed by the Department of Real Estate (License #00793885). Refer to www.swmc.com to see where SWMC is a licensed lender. In all states, the principal licensed office of Sun West Mortgage Company, Inc. is 18303, Gridley Road in Cerritos, CA 90703; Phone: (800) 453-7884