FHA Reform Bill Would Fix Correspondent Lending Snafu, Should Help Rebuild FHA Insurance Fund
June 17, 2010
The FHA Reform Act of 2010 passed by the House of Representatives late last week by a 406-to-4 vote may help untangle a problem that has emerged as the FHA moves away from approving cor-respondent lenders. The Department of Housing and Urban Development stopped approving new loan correspondent applicants on May 20, 2010, and currently approved correspondents will maintain their...