FHA Eases Up on Net Worth Requirement, Sticks With Broker Rules in Final Rule
April 8, 2010
The Department of Housing and Urban Development shied away from immediately imposing strict new rules that require lenders to increase their net worth and brokers to be lender-sponsored. Concern expressed by mortgage industry groups during the agency’s comment period seems to have swayed the final rules announced this week.HUD originally proposed a hefty increase in net worth...