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FHA Rescinds policy change to collections and disputed credit accounts

FHA Rescinds policy change to collections and disputed credit accounts

Wow, so FHA rescinded the proposed change to require collection accounts totalling over $1,000 and disputed accounts to be dealt with. This is a great move for consumers and will protect your abilities to dispute unwarranted errors on your credit. Be careful who you work with for credit repair because this doesn’t mean you can dispute things to dispute them.

Here is the FHA Bulletin

If you need an experienced FHA lender let me know or apply online

Ray Williams, Branch Manager, Summit Mortgage Denver, 303-779-0591 x101

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Licensed in Colorado as Maestro LLC (DBA Mortgage Maestro Group) is an Equal Housing Lender.

387 N Corona St #646, Denver, CO 80218.

NMLS Unique Identifier #1838215

Consumers wishing to file a complaint against a company or a residential Mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the Department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.

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