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February 3, 2014

Short Takes: New Penn Offers FHA FICOs at 580 / Freedom Goes After PHH’s Business? / Judicial States Have Slower RE Recovery / MountainView in Market with New MSR Deal / RESPA Abuses for $400, Alex

By Paul Muolo

It's nice to know that some lenders are willing to take on risk. Check out the new FHA/VA product from New Penn Financial: a 560 FICO minimum.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

vote to see results