FHA mortgages are poised to get more expensive

The Federal Housing Administration (FHA) plans to impose significant restrictions on the amount of money that sellers can contribute at closing in the near future. The FHA also will be raising its mortgage insurance premiums during the coming weeks, increasing charges for new purchases across the board. Making sense of the story: One reason for …

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Fannie Mae’s CEO Lauds ‘New Realism’ of Better Underwriting

Fannie Mae is building the “strongest book of business we’ve seen in the last decade,” the GSE’s president and CEO, Michael Williams, proclaimed to a group of industry professionals this week. While tighter underwriting standards may mean fewer consumers are able to get loans and banks are holding credit close to their chests, Williams says …

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