Revamped FHA Takes Aim at Would-Be Subprime Clients
April 17, 2006
Can the Federal Housing Administration provide mortgage borrowers with a viable alternative to high-priced subprime mortgage financing? Officials seem to think so. In testimony last week at a Congressional hearing on proposed changes to the FHA’s flagship single-family mortgage program, HUD repeatedly expressed its view that a revamped government-insured product will be able to save borrowers money and keep them away from unscrupulous lenders and risky mortgage products. …