Overview Conference Call for Mortgagees and FHA-Approved 203(k) Consultants

FHA will host the following conference call briefing session that will provide an overview of the published versions of

Origination through Endorsement’s 203(k) program and 203(k) Consultant sections:

· Date: April 9, 2015

· Time: 2:00 PM - 3:00 PM (Eastern)

· Title: SF Handbook 203(k) Product and Consultant Requirements

This may be a very interesting conference call. If you need th phone number and access code please contact us or HUD

** This turned out to be a very "non productive" call. They have made significant changes that throw more on the shoulders of the consultant and taken it away from the lender... then didn't address the consultant fees which haven't been revisited in twenty years. Inflation alone typically doubles the cost of things each ten years... example: $100 fee would become $200 in ten years under normal inflation and then $400 in the next ten years after that. Therefore our fees should be $400 by natural inflationary demands. Most of us are at $250-300 which seems fair to all and has been working well. Any type of control of our fees would be considered "price fixing" and is already against the law of the land. We may have to start a class action suit to get everyone to wake up that the guideline is just that "a guideline" and not an absolute.