HUD Moves to Implement New Lender Approval Rule, Increase Net Worth
December 3, 2009
The Department of Housing and Urban Development this week followed through on previously announced changes that will dictate which companies get to originate FHA loans, and on what terms. Although the agency argues that more mortgage brokers may end up doing FHA business as a result of its decision to no longer approve loan correspondents directly, the new system... [Includes one chart]