FHA tightening credit standards for homebuyers

04/4/2012 | AmericanBanker.com (free registration)

As part of a bigger effort to bolster the depleted reserves of the Federal Housing Administration, the agency is making it more difficult for consumers with credit problems to get mortgages. While some lenders praised the FHA's tighter standards, announced this month, others expressed concerns that it will restrict the number of people able to buy homes at a time when the market needs a shot in the arm.

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