Mortgage Processing News in NAMP® Press Room

HUD Tightens Guidelines for DPAs, Providing Opportunity and Options for Mortgage Professionals & Homebuyers
Sunday, February 13, 2011 - 2:20pm
FHA News Editor
HUD has issued a new rule to block the loophole which allowed for down payment assistant programs to provide charitable gifts toward homebuyer's down payment requirements. The impact will touch low- to moderate-income homebuyers, the majority who are first time, who would have relied on a charitable organization to meet the requirements for an FHA loan and down payment on a home. However,...
FHA News Editor, FHA-VA Loans, Loan Processing, Mortgage Underwriting, NAMP® Press Room
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