FHA Commissioner Stands Behind Home Loan Programs

http://www.realestateappraisertips.info/ - FHA Commissioner Stands Behind Home Loan Programs

FHA Loan Pros is reporting FHA Commissioner is standing by FHA Policy, read here.

Here’s a snippet:

“In a recent letter to the New York Times, FHA commissioner David H. Stevens responds to allegations that FHA loans are taking the place of the sub-prime loans that were largely responsible for record foreclosure rates. Concerns about heightened risk prompted a proposal to increase down payments for FHA loans to five percent from the current minimum of 3.5 percent.“

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