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While banks and lenders argue, loans for low-income borrowers take a nose dive

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Mortgage Professional America | 19 Sep 2014, 08:35 AM Agree 0
Why have FHA mortgages plummeted in recent months, leaving many lower-income borrowers out in the cold? The short answer: big banks and big government can't agree
  • Dan | | 19 Sep 2014, 10:11 AM Agree 0
    I guess you can say the lenders are managing their risk by limiting or not doing FHA insured mortgages. Can you blame them.
  • griff | | 19 Sep 2014, 10:39 AM Agree 0
    That is one answer. The other answer is if there is any way in the world for someone to put down 5% and go conventional anyone would be a fool to take a FHA mortgage with the ridiculously high MIP... that btw does not ever go away for the minimum down payment 30 year note.
  • | | 20 Sep 2014, 04:24 PM Agree 0
    This good news for mortgage brokers who have access to lenders who can do mortgages for these borrowers.
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