FHA Toughens Rules For Lenders

By
Real Estate Sales Representative with Wizards of Waz Real Estate

This was recently posted on Housing Wire.

 

"The Federal Housing Administration will toughen its standards for approving lenders that insure mortgages on its behalf and force more of them to buyback defaulted loans.

FHA Commissioner Carol Galante said the upcoming rule changes will help the agency protect its Mutual Mortgage Insurance Fund, which, according to some, is in danger of needing a bailout. The fund slipped to a 0.24% capital ratio in the fiscal year 2011, down from 0.5% the year before."

AND IT ONLY TOOK THEM HOW LONG?????

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Rainer
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Linda Jamail Marshall
Linda Marshall,Houston Texas, Linda Marshall, Realtors® - Houston, TX
Broker, ABR,QSC,RECS,ACRE - Innerloop Houston, Tex

Thanks for publishing this reminder, it definitely took way too long

Greetings from Innerloop Houston Texas

Jan 20, 2012 02:28 AM #1
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Rainer
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Bill "Waz" Wasowicz

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