How do you get your team trained in FHA Lending well the first time? Have them take an FHA class that includes the essential principles of FHA lending as well as the most detailed and up to date content. If you are interested in taking the most expansive FHA Mortgage Training class offered today, sign up now for one of our FHA classes and learn why over 24,000 people have been trained by our FHA Mortgage experts.
As the mortgage industry changes and evolves, FHA changes with it. In addition, the importance that FHA plays in the mortgage industry is growing as well. As you may know, FHA market share has gone from 3% (2006) to over 19% (2010). At the same time, FHA had announced changes 46 times per year (number of mortgagee letters, 2008-2010).
There are a variety of reasons that FHA and the changes associated with FHA, are growing exponentially. First, the mortgage market changed substantially as Fannie Mae and Freddie Mac were forced to make sweeping changes to increase downpayments and dramatically tighten their lending standards. That lead to their marketshare growth and ultimately, their exposure to the changing housing market. This left FHA as the option of choice for low downpayment, flexible and low cost lending. The other guiding factor in the explosion of FHA mortgages is the sheer breadth and number of FHA mortgage programs such as the 203b (fixed rate) program, the 203k rehabilitation loan, the 203ks rehabilitation streamline, the 255 HECM reverse annuity mortgage program, and finally the 234c Condominium loan. These valuable programs are at the core of the mortgage lending industry, and every lender and mortgage professional would be well-served to have these programs in their arsenal. However, the 203b, 203k, 203c and the HECM are not the only programs that will help lenders grow their business. FHA offers many other programs that can add value to a lenders portfolio. Consider the 203h, which offers no down payment for homebuyers located in Presidentially Declared Disaster Areas, or even the Energy Efficient Mortgage (EEM) which can be used for financing energy conservation or “green” improvements. There is even a $100 dollar down program to aid in the purchase of FHA foreclosures!
With all of these programs, it is clear how difficult it could be to stay on top of the different rules and regulations on your own, let alone keep your staff properly trained on the different programs. To keep up with all of the changes, you would need a dedicated team of professionals to do the work for you. That is where the proper FHA training and consulting by our team at Diehl & Associates come in.
We are humbled to have been trusted for initial training to assure all staff is ready to underwrite FHA loans and our clients are proud to display their certificates in the event of an FHA examination.
Take one of our FHA Training Classes Today!