SECURITY ATLANTIC - Schedule of Security Atlantic Fees

CONCERT AND BASEBALL TICKET GIVEAWAYS! CLICK HERE TO SUBMIT A TICKET REQUEST Quantities are limited! Good luck!

CASE ASSIGNMENTS REQUIRED ON ALL FHA SUBMISSIONS NECESSARY TO RUN TOTAL SCORECARD Effective Monday July 21st, all loans submitted to Security Atlantic must include an FHA Case Assignment. Loans submitted without the Case Assignment will be held outside of underwriting until it is received. Click here to read Announcement 08-10.

NEW FHA MORTGAGE INSURANCE PREMIUMS RISK-BASED PREMIUMS ARE HERE! On June 11, HUD announced changes to the mortgage insurance premium required on FHA mortgages in Mortgagee Letter 2008-16. These changes apply to purchase and refinance transactions on one- to four-unit mortgages with FHA case numbers assigned on or after July 14, 2008. Click here to read Announcement 08-09.

HIGHER LOAN LIMITS NOW PARTIALLY ACCEPTED ALSO, NEW RESTRICTIONS ON DPAs, FLIPS, CONVENTIONAL Effective immediately, the maximum loan amount we will accept will be the lower of the old high-cost ceiling and the new limit. DPAs, property transfers within one year, and conventional products have been eliminated. Click here to read Announcement 08-06.

NEW FICO RESTRICTIONS AND ADD-ONS SECONDARY MARKET SQUEEZE WORSENS New add-ons for loans with low-middle credit scores from 580-619. Pricing worsens for loans 530-579. Loans below 530 can no longer be closed. Click here to read Announcement 08-05.

BORROWERS WITH NO CREDIT SCORES NO LONGER ACCEPTED AS OF WEDNESDAY, MARCH 19TH New secondary market restrictions have made it necessary to require all borrower to have at least one credit score. The last day to submit a loan that includes a borrower with no scores is Tuesday, March 18th. Existing loans must be closed by Friday, March 28th. Click here to read Announcement 08-04.

NEW FILE SUBMISSION REQUIREMENTS APPRAISALS NOW REQUIRED ON ALL REFINANCES Due to a dramatic increase in fallout, appraisals must be included in the initial underwriting package for all refinances. Click here to read Announcement 08-03.

NEW SUBMISSION COVER SHEET Updated as of 2/19/2008 Click here to download in Adobe PDF Format

NEW GUIDELINES FOR ALL LOANS UNDER 580 SCORE NEW PROGRAM FOR SCORES FROM 530-579 NO LONGER ACCEPTING NEW LOANS 529 AND BELOW Loans with a score between 530 and 579 are no longer eligible for our Standard FHA Program. A new product "FHA SUB 580" has been established for these loans. We are no longer accepting new loans with a low middle credit score below 530. For details concerning these changes, please read Announcement 08-02.

203k PROGRAM TEMPORARILY DISCONTINUED WILL RESUME WHEN MARKET RETURNS TO NORMAL Due to a loss of appetite in the secondary market for 203k loans, we have found it necessary to temporarily discontinue offering the product. Click here for more details.

SAVE TIME! EMAIL YOUR FILES AND PREQUALS FHA Prequals (1003 and credit report) can now be emailed to prequals@fhaland.com. New files can now be emailed to newfiles@fhaland.com. Prequals can also be faxed to 866-442-9935. For a full list of email addresses, click here. Faxes can be found here.