Another lender is getting even STRICTER....and with FHA!!!
Sorry to bring this to you late on a Friday, but I just received an email that we are increasing our minimum fico on FHA loans to 600 for all borrowers. I need all loans locked today that fall between the 580 and 599. Please call me asap to get these deals locked. PLEASE NOTE THAT THIS DOES NOT AFFECT STREAMLINES. We do not require a credit score on streamlines. Please call me with any questions and I am sorry for this.
I remember when FHA was FHA!!!
Pretty soon it'll be "Sorry, you do not have a 720 mid FICO-you do not qualify for FHA!"!!!!