The Mortgage Bankers Association has asked the FHA to clarify its view of “credit approval” for loan applications received prior to Oct. 1 in connection with the possible implementation of lower loan limits on that date. In a letter to the Department of Housing and Urban Development, the MBA made clear it continues to support the current, temporary loan limits. However, should the loan limit rollback occur as scheduled, the FHA must ensure that the change is implemented without disrupting the FHA financing process for consumers, the trade group said. In this regard, the MBA asked the FHA to explain ...