The FHA Mortgage Loan Company is a HUD approved FHA mortgage lender with many years of government financing experience

The Mortgage Bankers Association reports that of the "mortgage applications accepted during the month of July 2008, 29.1 percent were for government-insured loans (consisting of mostly FHA loans) compared to 8.4 percent in July 2007."

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Data from the U.S. Department of Housing and Urban Development (HUD) show that the level of conventional to FHA refinance applications has increased 317 percent on a year over year basis in July, the bulk of which is likely from subprime ARM products. Similarly, the level of conventional to FHA refinance endorsements has increased 260.8 percent on a year over year basis. Based on the MBA survey, application volume for government-insured loans was up 133.9 percent in July from a year ago, while application volume for conventional loans was down 50.2 percent, evidence of a shift from conventional to government-insured mortgages.

Besides helping to stem the flow of foreclosures and helping borrowers in high-cost areas by increasing loan limits, the new housing laws passed other provisions to address the housing crisis and help more first-time borrowers. For example, the HUD requirements for higher bond amounts for FHA lenders help streamline the process of becoming a FHA lender while providing the buyers assurance that the lenders are legitimate. And, a new risk-based structure was created for the FHA mortgage insurance premium (MIP) that is based on the borrower's credit profile. This premium shifts up or down depending on the borrower's level of risk to the lender, rewarding those who have good credit scores. And, many provisions were made for seniors interested in Home Equity Conversion Mortgages (HECMs), also known as reverse mortgages, including a lower cap on fees and higher loan limits.

You can search for a HUD approved FHA mortgage lender in your area on the HUD website at: http://www.hud.gov/ll/code/llslcrit.cfm. Or, just fill out the free loan quote on this page. We can help with your FHA loan needs.