Wednesday, March 20, 2019

Latest FHA shift to mitigate risks may shut out some homebuyers

Latest FHA shift to mitigate risks may shut out some homebuyers: Last week, the Federal Housing Administration took steps to mitigate risks to its single-family portfolio, announcing updates to its TOTAL Mortgage Scorecard that may flag some loans for manual underwriting. Chatter among members of the lending community suggests a number of originators are unhappy about the changes, fearing that the end result may be that some of their borrowers will be shut out of FHA financing.