Industry Supports FHA’s 40-Year Loan Term Option–With Caveats

HousingWire, June 6, 2022–Maria Volkova
The Mortgage Bankers Association, Housing Policy Council, National Association of REALTORS and the American Bankers Association agreed a 40-year loan modification should be a permanent fixture in the administration’s loss mitigation handbook, suggesting it would benefit FHA borrowers and the administration.