Real estate blog entries tagged with fha seller concessions lowered to 3 comment period by Richard Smith FHA VA Rural Development in TN GA

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Home : Blogs : Richard Smith FHA VA Rural Development in TN GA : Richard's Real Estate Thoughts : Tag "fha seller concessions lowered to 3 comment period"

fha seller concessions lowered to 3 comment period: HUD and FHA believe lower seller concessions are needed to maintain reserves - 07/19/10 09:43 PM

Last week FHA announced the beginning of the comment period about the anticipated change to reduce seller concessions
FHA announced began to discuss publicly back in December several considerations to tighten guidelines. The stated goal was to restore FHA capital reserves and to ensure that FHA financing was not at risk again because of large numbers of defaults. Capital reserves had fallen below mandated levels with great publicity.
Specific items included:
•·         Increased scrutiny on the FHA loan portfolio
•·         Effective measures against lenders with excessive default ratios
•·         Increase mortgage insurance premiums
•·         Improvements in appraiser independence
•·         Tighter approval … (11 comments)

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Richard Smith FHA VA Rural Development in TN GA

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