In the realm of non-news, we have various lenders now focusing on the joys of FHA lending and explaining how FHA mortgages are largely unknown to the public — thus the sudden need for the expertise of these lenders. This, of course, is difficult to believe.

The FHA program has been in place since 1934. More than 34 million loans have been issued with FHA backing. The FHA program is about as secretive as pro football on a Sunday.

What’s really going on is that lenders are no longer able to make toxic loans. Option ARMs are out, interest-only financing is rapidly becoming a memory (and not a good one) and stated-income loan applications are now unbelievably rare — whereas before they were just largely unbelievable.

Essentially, the mortgage marketplace has been reduced to three flavors: conventional, FHA or VA. Investors will buy such loans, thus lenders must sell them. Seen the other way, if you want to play lender you can’t sell much else and make money.

We have a growing number of newly-minted FHA specialists, authorities and experts — folks who yesterday were offering piggyback loans and, who knows, maybe even financing with no money down and no payments until next May.

We have also seen the development of a solid community of consumers and lenders on this site during the past year. We have “met” a number of lenders and loan officers online who have solid expertise and years of experience with FHA mortgages.

To those with an interest in financing or refinancing at this time, we say: Simple and plain FHA loans have kept a lot of people out of financial trouble when more alluring mortgage options were available. Talk to loan officers about their FHA activities for the past few years. There are lenders who have been working with FHA mortgages for a long time and really know the ins and outs of the program — and why it continues to be a safe and sensible option for many borrowers.  As a first time homebuyer in Macomb County, St Clair County or Oakland County, you should look at FHA mortgages as what they have always been. A good solid secure mortgage thats not sexy and exciting, its nice and boring, which in the mortgage business is what we need!!!