Written By: Karen Deis, Publisher
You are not the only one effected by the:
- Mortgage Disclosure Improvement Act – Effective 7-30-09
- Reg Z, Advertising Rules Affect Real Estate Agents/Builders – Effective 10-1-09
- FHA Condo Approvals Going Away – August 1, 2009
- Market Condition Appraisal Addendums
- Fannie’s New Credit Scoring & Non-Traditions Credit Guide – Effective August 1, 2009
…but these changes will affect real estate agents and ultimately, your clients.
So how do you prepare them in allowing enough time for the closing date; buyers who are trying to clean up their credit; FHA condo approvals that will all go away on October 1 and the infamous HVCC – which by now, they have all experienced the problems associated with this system.
Let’s simplify each rule so you can easily explain them to your agents and builders. When you read this, it’s written as if YOU were explaining it to them! Detailed info can also be found at MortgageCurrentcy.com.
First, MDIA (Mortgage Disclosure Improvement Act)
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