FHA Cracks Down on Mortgage Lenders

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FHA News Editor - Here we post articles each week on FHA/VA Government news.

The Federal Housing Administration (FHA) will toughen its standards to approve mortgage lenders doing business with the government, and force more banks and mortgage companies to buy back defaulted mortgages in a major move to crack down on mortgage lenders. The federal government’s changes are part of an effort to improve mortgage lending conditions and reduce losses on home mortgages as result of billions of dollars in losses suffered at the nation’s mortgage giants, Freddie Mac and Fannie Mae.

To read the entire article, please visit:
http://www.housingpredictor.com/2012/fha-cracks-down-on-lenders.html

SOURCE: Published by NAMP® Publishing Group, a division of the National Association of Mortgage Processors (NAMP) (http://www.mortgageprocessor.org)