qualifying for credit: Sweeping new rules for FHA approved loans. Should you punish the whole class for the actions of a few?
- 01/21/10 03:12 AM
The following article from Diana Golobay discusses sweeping changes to the FHA insurance program. These will make it even more difficult to qualify for a mortgage. David Stephens, the FHA commissioner is making these changes to address the underperforming FHA paper and the fact that FHA's capital reserve ratio fell below the congressionally-mandated 2% minimum. These changes will effect how much money a client needs to bring to the closing table and makes it more difficult to qualify. I understand the need to stop the bleeding somehow. When a patient enters the ER with "low blood pressure" and other symptoms of (0 comments)