Home Ownership Gets Tougher as Lenders Restrict FHA Mortgages.


Approximately 15% of home buyers in need of financing have FICO scores between 620 and 640. With the major lenders now raising the minimum FICO score for an FHA loan from 620 to 640, these folks are now forced out of the market. This article from Bloomberg news explains further the reason the major lenders … More Home Ownership Gets Tougher as Lenders Restrict FHA Mortgages.

Foreclosure mess prompts call for stress tests.


The Congressional Oversight Panel, a watchdog group created by Congress in 2008 to review the Treasury Department’s response to the financial crisis, has issued a report today in which it recommends to regulators that they conduct stress tests on the major banks that are faced with potential buy backs of mortgages due to the faulty … More Foreclosure mess prompts call for stress tests.