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Volume 3 - Number 6

March 19, 2010

Broker Deadline Extended as Rule Lingers

The Department of Housing and Urban Development extended the deadline for mortgage brokers seeking renewal of their FHA lender approval to submit audited financial statements by 30 days, from March 31 to April 30. This may be the last time brokers have to do so, as HUD proposed in November 2009 to eliminate FHA approval for loan correspondents. This rulemaking is still in process and a final rule...

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