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re: FHA Loans are the new Subprime
Posted on 10/26/26 at 11:39 am to 13SaintTiger
Posted on 10/26/26 at 11:39 am to 13SaintTiger
quote:
Give it a fricking rest already. You’ve been sky screaming about a housing bubble for half a decade now. You are clearly incompetent on this subject. Go touch some grass.
It's okay man. As long as you are less than 60% LTV, you should be okay.
Posted on 10/26/26 at 12:25 pm to stout
The sale of FHA homes will not hurt comps. Appraisers are supposed to verify all sales data within the appraisal. If elements of the sale are not verifiable with parties involved in the sale, the property should not be used as a comparable sale.
Posted on 10/26/26 at 12:31 pm to stout
LOL. FHA has always been the sub prime loans. I was a mortgage originator back in the early 2000's up to the crash and FHA was my bread and butter. I did some sub prime loans back then but its was not many because I could usually get most people into FHA.
FHA was in the gutter competing with the wild sub prime loans which forced the sub prime lenders to go even further into the loan pool sewer. Then FHA would ease their underwriting even more.
Whatever the WH administration wants FHA to do, they will do it regardless if it is a fast lane to broke.
FHA was in the gutter competing with the wild sub prime loans which forced the sub prime lenders to go even further into the loan pool sewer. Then FHA would ease their underwriting even more.
Whatever the WH administration wants FHA to do, they will do it regardless if it is a fast lane to broke.
Posted on 10/28/26 at 9:43 am to Yaboylsu63
quote:
FHA loans are a scam and they assisted many illegals getting into nicer neighborhoods during the Biden admin.
Outside of simply getting you into the house, it’s not a good deal for the consumer either.
PMI for whole term, no equity, high P&I payment before any escrow.
The barrier to entry was too low and the Dems used it against us with the invaders.
FHA loans are fine when used properly and help qualified people get their foot in the door with regard to home ownership. The problem is, like so many other programs like it when Dems are in control, when it is abused, standards are dismised, and it is used for leftist social engineering.
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