“We have shown it is possible to meet the mission while also being fiscally prudent and being a good steward of taxpayer funds,” said FHA Commissioner Julia Gordon.
The average credit scores for new originations of FHA mortgages declined somewhat after BofA and JPMorgan Chase ceased correspondent aggregation in the market.
FHA Commissioner Julia Gordon cautioned attendees at the annual conference of the Mortgage Bankers Association not to expect a further cut to the mortgage insurance premium rate anytime soon.
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