FHA Loans Get Better with Credit Counseling

SOURCE: Mortgage News Feed

Tight mortgage lending conditions have largely shut out the millions of borrowers with credit scores below 640. In response, the Federal Housing Administration, which insures low-down-payment loans, has taken on the tricky task of trying to expand access to credit without increasing the rate of default. This month the agency announced that it would lower mortgage insurance premiums for borrowers who commit to housing counseling.

To read the entire article, please visit:
http://www.nytimes.com/2014/05/25/realestate/fha-loans-get-better-with-credit-counseling.html?_r=1


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Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.

 


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