Posted by docs1954CA on 5/13/08 9:13pm
Msg #247332

Good news maybe????

http://www.house.gov/apps/list/press/financialsvcs_dem/press031308.shtml

Reply by MistarellaFL on 5/13/08 9:15pm
Msg #247333

For the paper manufacturers

Stock up on paper, ya'll if the FHA is involved, lol.

Reply by ME/NJ on 5/13/08 9:51pm
Msg #247336

Not many FHA loans in this area

80% of the homes are over the FHA max limit. I do get a couple in the not so nice cities. PITA paper work last one was 250 pages and help if they have a comon last name. I had one judgement pack that was larger then the loan package. (they paid 3xs the print fee because of it)

Reply by JanetK_CA on 5/14/08 2:02am
Msg #247367

Re: Not many FHA loans in this area

Yesterday I did my first FHA loan EVER. Falling home prices and increased limits are making them possible around here, again, I guess. The loan was with IndyMac and was "only" about 130 pages.

Reply by MistarellaFL on 5/14/08 6:43am
Msg #247371

130 pages is small for FHA

I recently had one for Indymac, too, about the same amount of pages.
But IME, most FHA packages are double that. I look forward to more closings
via FHA, but not to the additional printing costs involved.

Reply by Linda Juenger on 5/14/08 8:00am
Msg #247377

Re: 130 pages is small for FHA

I've done 5 FHA in the last couple weeks. Huge pkgs. Over 215 x 2 for each one. A few duplicates. Just seems so riduclous also to have an Occupancy Aff and a Primary Residence doc. Waste of paper IMO. There has just got to be a way to combine some of this, but guess they aren't even going to try. I feel sorry for the borrowers signing.

Reply by Carolyn Bodley on 5/14/08 8:35am
Msg #247383

Re: Try 750 pages times two n/m

Reply by Tish/CA on 5/14/08 1:24pm
Msg #247421

Re: Try 750 pages times two

That's a bit outrageous...who's the lender? Ok, sure, obviously the print fee needs an adjustment but what about the signing few?? 250 pages and up to 750, doesn't that equate to 2-3X as long at the table? How many notarizations are required in these kind of packages?

Reply by nolanotary on 5/14/08 8:19am
Msg #247379

Re: Not many FHA loans in this area

I've had a few over the last 2 weeks. I think the largest package was like 150 pages. There were a bunch of duplicate docs included. If these FHA deals are going to start flooding the market, I'm going to raise my print charge for edocs.

Reply by MistarellaFL on 5/14/08 10:57am
Msg #247402

Re: Not many FHA loans in this area

That's what the inital post was about...you may be seeing more and more.
Click on the link in the original post, see what is happening.
I only did a few in a few years, but am seeing more and more...like 50% of
the foreclosure sales I am doing now are FHA for new home buyers.

Reply by Ernest__CT on 5/13/08 11:56pm
Msg #247356

I've been seeing mostly FHAs lately. Paper++ n/m