Richard's Real Estate Thoughts - Archives January, 2012

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Home : Blogs : Richard Smith FHA VA Rural Development in TN GA : Richard's Real Estate Thoughts : Archives January, 2012

FHA points to reduced seller concessions - 01/21/12 02:07 PM

FHA yesterday announced plans to increase lender requirements and to consider reducing allowed seller concessions.
The first announcement was about increased lender requirements which may lead to some further tightening in lender underwriting standards.
More significant for most consumers is the announcement about the renewal of plans to "reduce the maximum allowable seller concession from its current level to one more in line with industry norms."
This has been under consideration for a couple years or so. It was part of the reforms that were discussed in 2010 by then Asst Secretary David H Stevens.
"We are also proposing a third … (8 comments)

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