Two U.S. senators and their staffs are working with the Department of Housing and Urban Development to ensure that FHA policies regarding interest charges protect borrowers. Sens. Ben Cardin, D-MD, and Johnny Isakson, R-GA, and HUD are trying to resolve an existing FHA policy that allows lenders to charge interest on a mortgage loan through the end of the month, even if the borrower pays the loan off earlier in the month. The policy apparently aligns with Ginnie Mae’s guarantee to securities holders of a full month’s interest on a securitized FHA loan even if that loan is paid in full at the beginning of the month. Only the FHA has this sort of...