Everyone Is Finally Making The Switch From Toxic SubPrime to FHA!

If I didn’t say it earlier I’ll say it now, I told you so! Okay, maybe I didn’t, but it’s obvious that FHA is the way to home financing you deserve and I think that as informed consumers you’d appreciate the news I’m about to share with you.

Data from the U.S. Department of Housing and Urban Development show that the level of conventional to FHA refinance applications had increased 317% on a year over year basis in July, the bulk of which the Mortgage Bankers Association suggests was likely from borrowers looking to get out of subprime ARM products.

That said, not all FHA originations are sub-prime; the level of conventional to FHA refinance endorsements has increased 260.8 percent on a year over year basis, as well.

The Mortgage Bankers Association suggested growth in FHA originations was a strong impetus to push forward with proposed FHA modernization, including risk-based pricing; the recently-passed housing legislation that included a $300 billion expansion of FHA’s authority to underwrite refinancing for troubled borrowers effectively outlaws the practice. Democratic lawmakers have criticized risk-based pricing for loans as discriminatory against minorities, who tend to comprise more of the subprime credit category.

Why don’t you be a part of the progessive change for the better?
If you have a subprime loan that you wish to refinance to a fixed rate loan through our FHA program apply today at http://www.whatisyourrate.com.