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Message
re: FHA: Insurance premiums for mortgages will no longer be phased out at 78%
Posted on 1/31/13 at 1:06 pm to C
Posted on 1/31/13 at 1:06 pm to C
quote:
Additional new policies include a requirement that any mortgage for an applicant with less than a 620 credit score and debt-to-income ratio above 43% must be underwritten manually. Lenders who want to issue loans to these applicants must be able to adequately document why they decided to approve the loans.
I actually agree with this.
1
Posted on 1/31/13 at 1:09 pm to dewster
That's fine.
As is maybe tweaking insurance duration (maybe requiring it to 70% rather than 78%
Having it always there is just fricking absurd and is nothing but a money grab
As is maybe tweaking insurance duration (maybe requiring it to 70% rather than 78%
Having it always there is just fricking absurd and is nothing but a money grab
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