Questions Surround FHA’s Push into Troubled Mortgages

Key executives from some of the nation’s largest mortgage servicing shops gathered on Capitol Hill Wednesday, testifying before the House Financial Services Committee over the recently-passed and soon-to-be-implemented Hope for Homeowners program that will see the Federal Housing Administration’s authority to underwrite refinanced mortgages for troubled borrowers expanded by a whopping $300 billion. The new program is expected to become effective on Oct. 1.

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