Don’t get me wrong I think it is a fine minimalist start and I strongly believe in minimalist government solutions–let the market work is my mantra. However, I think it is crazy the way the mortgage market, news media, and even the blogosphere is painting this as a panacea.

Best case, by all reports it helps 240,000 families. That, of course, assumes FHA approved lenders can find them or these families discover this as an option. Maybe it is a good time to find a good lead provider targeting FHA business.

Regardless of the impact it will be a part of the market and you should be educated on the opportunity. So, here is my little part to create a FHASecure primer:

• Paul Knag breaks down the essentials of FHASecure as reported by HUD
• Seth Jayson at The Motley Fool shoots daggers at NARs endorsement of the FHA plan
• Peter G. Miller has a site that is devoted to all of the nuances of FHA mortgages and the new FHASecure program
• Morgan Brown can actually get you a shiny new FHASecure mortgage loan

If you really want to go contrarian Brian Brady is talking up 1 year ARMs–I’m with you Brian!

Tags: fha, fhasecure, hud, mortgage, bush, paul knag, morgan brown, brian brady, bill rice