Thursday, May 17, 2012

February 2012 RE News

rubinbrown-realestate
FEBRUARY 2012

This newsletter is published by RubinBrown’s
Real Estate Services Group to inform our clients and contacts about
relevant industry updates, legislation and accounting information.

HUD Releases FY 2012 Income Limits For The Home Program

The U.S. Department of Housing and Urban Development issued its HOME program income limits for the 2012 fiscal year. 

They are effective February 9, 2012.  To access the new income limits, please click here.

 

   

Follow Up On State Of The Union Housing And Tax Proposals

Additional insight on the President’s proposal to allow homeowners the opportunity for mortgage refinancing has come to light. 

Initial reports indicate that underwater homeowners who are current on their mortgages would be allowed to refinance the loans with a FHA-insured mortgage. 

For additional commentary, click here.

   

FHA Imposes Additional Risk Management Policies

HUD issued a new policy to enhance the lender indemnification process and raise lender performance standards. 

Among other items, the policy allows HUD to require indemnification of loans insured by Lender Insurance lenders for significant violations of FHA origination requirements and fraud/misrepresentation. 

To see the complete policy, please click here.
   

USDA Rural Development Releases 2012 Income Limits For Guaranteed Loan Program

USDA Rural Development issued its guaranteed loan program income limits for the 2012 fiscal year.  They went into effect on January 18, 2012. 

Program eligibility includes household incomes at or below 115% of the median area income and home purchases must be in a pre-defined rural area. 

To access the income limits, please click here.

 

   

ST. LOUIS
Bryan Keller, CPA

Partner-in-Charge
Real Estate Services Group
314.290.3341
bryan.keller@rubinbrown.com

KANSAS CITY
Glenn Henderson, CPA, CFP

Partner
Real Estate Services Group
913.499.4429
glenn.henderson@rubinbrown.com

DENVER
Frank Seffinger, CPA, LL.B., LL.M.

Partner
Real Estate Services Group
303.952.1240
frank.seffinger@rubinbrown.com

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