even tighter underwriting standards on fha loans: FOR FHA LOANS, Even Tighter Underwriting Standards On The Way! - 09/21/09 01:22 AM
Within the past 18 months or so, home loans underwritten by the Federal Housing Administration (FHA) have grown exponentially in their share of the mortgage market. 
In the first half of this year, roughly 19% of new home loans were backed by the FHA, up from about 2% in 2006.  (Figures from Inside Mortgage Finance, as reported in today's edition of The Wall Street Journal by Reporter James R. Hagerty).
Due to an increase in claims against the agency due to escalating loan defaults, however, the agency plans to further tighten its loan underwriting requirements and build its reserve base.
According … (1 comments)

 
Dean Moss, Dean's Team Chicago IL Real Estate Team (Dean's Team - Keller Williams Realty Partners Chicago IL)

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