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Other than busier than usual, what is going on with FHA backlog? Any ideas?

Mon May 12 2008, 18:13 - All locations - Financing - 1 answer
 
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Randy A. V...
Real Estate Pro
in Traverse City
Randy A. V..., Real Estate Pro in Traverse City in Traverse City
Answers (1)
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Trey Bowden was FIRST TO ANSWER
FIRST ANSWER
Randy,

With the changes in the mortgage market, i.e., loss of sub-prime mortgages and ever tightening guidelines in the conforming arena, more and more brokers/bankers are moving to add FHA into their arsenal. The increase in applications has slowed the system down. Don't know if this is exactly what you were needing to know, but hope this helps.

Good Luck!

Trey Bowden
(405) 340-3277

Tue May 13 2008, 08:00
Web Reference: http://homeownergonemad.blogspot.com
 
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