Lenders Get Stricter Requirements Set Out by the FHA Posted By : Brandy Coffey
Tuesday, 26. January 2010
The agency has previously been criticized for backing mortgages for very little or no down payment; starting home buyers out with no equity at all in their homes which has been a contributing factor in the current economic climate. Whereas the FHA does need to better protect its funds so that a government bailout does not become a necessity, it does also hold some responsibility to helping the housing market to recover as well.