Time may be limited for funding FHA streamline loans with FHA’s new rules. The FHA-to-FHA Streamline Refinances are effective with case numbers assigned on November 17, 2009. That gives FHA home loan originators only a few weeks to originate loans under the old guidelines. What has changed? Just about everything!
o New FHA seasoning requirements;
o Revised requirements for FHA loan payment histories;
o Required a net tangible benefit to the FHA borrower;
o FHA now has a maximum CLTV;
o Required verification of assets and employment
