FHA Mortgage Rates – New Rules For Brokers
Posted on October 20, 2009
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In a move that appears to be aimed at increasing the number of available outlets for customers of FHA mortgages the Federal Housing Administration has announced that so-called ‘third party’ mortgage brokers no longer need to register or meet the agency’s net worth requirements. The FHA also announced a more stringent appraisal ordering process that mirrors much of the Home Valuation Code of Conduct (HVCC) that currently applies to Agency (Fannie Mae and/or Freddie Mac) mortgage products.
Source:FHA Mortgage Rates – New Rules For Brokers
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