n Up to 75 percent LTV for amounts up to $1,500,000 on a primary residence n Up to 85 percent LTV for amounts up to $1,000,000 on a primary residence n Up to 75 percent LTV for condos “Even with the scarcity of jumbo products today, we sweetened the deal for our customers,” said Bob Johnson, SVP of capital markets. “As always, our focus is on the total customer experience of innovative products backed by hands-on service and quick turn around times.”
MGIC Launches New Streamlined Underwriting Program
Mortgage Guaranty Insurance Corporation (MGIC) has announced a new, streamlined underwriting program for loans with a Fannie Mae Desktop Underwriter Approve or Freddie Mac Loan Prospector Accept response. Under the new underwriting program, MGIC Go!, MI loans that receive DU Approve or LP Accept responses and meet minimal overlays are automatically eligible for MGIC MI. “MGIC Go! simplifies the process and fits into our customers’ daily operations,” Sal Miosi, MGIC VP of marketing said. “MGIC Go! allows our company to insure quality loans by exercising its own judgment and underwriting criteria, while allowing our customers to take advantage of their existing underwriting processes.” The program, effective immediately, expands MGIC guidelines in certain areas with credit overlays and is available on all submissions options.
Brokers, and the National Center for Lesbian Rights. “Having this first fair housing mobile application equips people everywhere with the information they need to combat housing discrimination,” said John Trasviña, HUD Assistant Secretary for Fair Housing and Equal Opportunity. “We are maximizing the latest technology to make the process for filing fair housing complaints faster and easier and arming our fair housing partners with the information they need to understand their fair housing rights and responsibilities.” HUD’s new fair housing app was unveiled during the 3rd Annual MobileGov Summit in Washington, DC, a conference which brings government and industry IT leaders together to discuss the
latest trends and best practices for creating the next generation mobile government workforce. “HUD needed an efficient and reliable solution to quickly extend existing capabilities to mobile computing devices,” said Marilyn Crouther, senior vice president and general manager, U.S. Public Sector, HP Enterprise Services. “The new HP application achieves operational goals of HUD—from concept to deployment—while more effectively addressing discrimination complaints. The mobile app simplifies and increases access to government services for people.” In addition to facilitating real-time delivery of housing discrimination complaints to HUD, the app can be used by individuals researching their housing
rights after a natural disaster, when power outages make the iPhone/iPad one of the few ways to access the Internet.
Your turn National Mortgage Professional Magazine invites you to submit any information promoting new “niche” loan programs, new products or any other announcement related to the introduction of a new program, to the attention of: New to Market column Phone #: (516) 409-5555 E-mail: newsroom@nmpmediacorp.com Note: Submissions sent via e-mail are preferred. The deadline for submissions is the 1st of the month prior to the target issue.
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HUD Releases New App Geared Toward Fair Housing NationalMortgageProfessional.com v
CALIFORNIA MORTGAGE PROFESSIONAL MAGAZINE v MARCH 2013
The U.S. Department of Housing & Urban Development (HUD) has launched the first housing discrimination mobile application (app) for iPhone and iPad. Developed by HUD’s Office of Fair Housing and Equal Opportunity (FHEO) and HP, the app uses the latest technology to provide the public with a quick and easy way to learn about their housing rights and to file housing discrimination complaints, and inform the housing industry about its responsibilities under the Fair Housing Act. The app will also be an important tool to assist fair housing groups and other civil rights advocacy organizations in their efforts to help individuals pursue their housing rights and industry to educate their members on their responsibilities. Several groups indicated their intent to promote the app with their members and in communities where they work, including MomsRising, Illinois Department of Human Rights, Access Living, League of United Latin American Citizens, Asian Real Estate Association of America, National Association of Hispanic Real Estate Professionals, National Association of Real Estate