FHA Stops New Credit Law

On July 1, 2012 FHA stops new credit law with new, tougher credit rules were to be applied. Up to one third of new loans could have been delayed or not approved. Now, loan officers can decide if disputes,  collections and other items present serious risk. The FHA is reaching for "balanced yet flexible"  rules rather than rigid standards. This should help the real estate market.

 

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