FHA , PMI And Hud Counseling?
Working a short with the Leaders Bank, done one other succesful short with them including the loss mit person himself. He is still speaking to me even though this is the FHA and is very easy to work with..Question, he wants them to attend a hud required counseling program prior to approval and just stated that he has PMI on top of the government backed 1st mortgage. Does not surprise me that i have never heard of PMI on top of FHA,( the reason i like CREI) but what trumps what here. When i follow the FHA guidelines with the correct spread to make them happy then can the PMI still say no way. Am i missing something that my loss mit rep is saying?? confused, can anyone shed some light?? thanks..
Regards-Pat
MIP plus PMI? I've not yet encountered such an animal.....
But help the Borrower make the HUD counseling session, and get the certificate!
In some areas of the USA, it'll take weeks to get an appointment... while in other parts it's walk in, sit down, hello, goodbye... here is your certificate, next!
[addsig]