Revisions to FHA Loan Certifications Draw Mixed Reviews
The government on Tuesday proposed revisions to the certifications on Federal Housing Administration (FHA) loans that were intended to ease fears about lending to riskier borrowers. The changes, however, drew mixed response from banking and mortgage officials. The Mortgage Bankers Association (MBA) also expressed concerns, saying the rules still lack clarity and don’t provide a way for lenders to correct minor errors.
