Banks to Increase Loan Loss Reserves? SEC's Fannie and Freddie Lawsuit; FHA Anti-Flipping Rule

``I am sure that many originators wish that there was a defrost button for the FHA Anti-Flipping rule. The clock is about to run out (12/31) on the HUD temporary waiver of requirements of the FHA regulation 24 CFR 203.37a (b)(2) FHA Anti-Flipping rule. HUD has not issued an extension of the property flipping waiver and so lenders have shut down on lending for FHA flips. This may be extended, but savvy lenders are taking no chances and telling their LO's to make sure the current owner has been on title for at least 90 days - but at least they don't need the property inspection and the second appraisal.''