The Federal Housing Administration, more commonly known as the FHA, is proposing a new rule that could reshape the mortgage industry. The rule, Strengthening Risk Management through Responsible FHA-Approved Lenders, focuses on increased net worth requirements for mortgage lenders.  In short, with this change, the lender will assume more liability on originating FHA loans. To date there are about 13,800 registered lenders in [...]
Without question now is the time to purchase your new home. However, not every home is equal. In today’s market, many buyers are getting what they think is their dream bargain home, only to find out that they bought a money-pit nightmare. In her article “Beyond the mortgage payment”, MarketWatch writer Amy Hoak points out that homeowners need to [...]
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