Professionals Learn - It's a New Day at FHA

Pahrump real estate professionals came and learned. On May 9th, 2006, Lorraine Griscavage-Frisbee, Single Family Housing Program Specialist, and Bernard C. Yergeau, Operations Analyst brought them the news of the many new changes occurring with FHA products. The Pahrump real estate professionals gave HUD/FHA another warm welcome. The HUD Staff had returned for a second time.

[Photo: Seated real estate professionals listening]

Ms. Griscavage-Frisbee instructed a Basic FHA Mortgage Programs class for real estate professionals and mortgage brokers. Ms. Griscavage-Frisbee discussed FHA eligibility requirements; underwriting guidelines, property characteristics and FHA mortgage programs such as the new Streamline (K). That program lets a buyer or owner use the same loan for both purchase and repairs. One can add up to $35,000 additional for the repairs. The new Streamline (K) allows repairs to be completed after close of escrow.

Over 45 local agents and lenders attended the three-hour session at the Mountain Falls golf club. Licensed agents and mortgage brokers for the state of Nevada earned three credits of continuing education.

The audience had many questions concerning manufactured housing. They also learned about FHA's Home Equity Conversion Mortgage (HECM.) This is the most popular reverse mortgage product on the market.

Content Archived: August 18, 2011