FHA Lenders Receive Warning from Commissioner

Posted on May 25, 2010 by admin 
Filed under FHA Articles, FHA Credit, FHA Guidelines, FHA Mortgage Articles, FHA news, Mortgage News, Mortgage Reform · Tagged:

The Mortgage Bankers Association reported that FHA rates should remain affordable in the near future because of concerns in Europe financial problems, but they predict rate hikes in 2011.  Most real estate financial advisors agree that low FHA rates are helping the local housing communities recover.  Once again HUD has come down hard on FHA lenders over fraud and disclosure negligence.  FHA commissioner David Stevens stated in a MBA meeting, “This is a mortgage market surviving purely on life support and sustained by the federal government.” Stevens continued his theme of FHA mortgage reform and made an effort to persuade FHA mortgage lenders to sacrifice the commissions at this time for the good of the industry.

The government agency tightened FHA loan requirements with amendments on the FHA guidelines making qualifying more challenging for new home buyers.  Read the original FHA loan article online at > Home Buying Opportunities with Declining FHA Loan Rates

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