Dear Valued Partner,
FHA recently issued a Special Edition statement from FHA Commissioner, David H. Stevens, which announced extensions for certain effective dates related to Final Rule, "Federal Housing Administration: Continuation of FHA Reform-Strengthening Risk Management through Responsible FHA-Approved Lenders":
Note: Loans eligible for this waiver must close by March 31, 2011. All other pipeline loans that do not meet these criteria and have not closed prior to January 1, 2011, must close in the name of a FHA-approved Lender/Sponsoring Lender. FHA-approval of all Loan Correspondents for all other purposes will expire on December 31, 2010.
Sun West Mortgage will follow the deadlines as set forth in the FHA announcements, provided the specific guidelines outlined by FHA are met. For more details on the waivers, view the attachment at: http://www.hud.gov/offices/hsg/sfh/waivers122010.pdf
If you have any questions regarding the loans in your pipeline, please contact your Account Executive at (800) 453-7884.
Sun West Mortgage Company, Inc.
|This 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