FHA to Toughen Rules for Borrowers
Wednesday, December 2nd, 2009
By Dina ElBoghdady
Washington Post Staff Writer
Wednesday, December 2, 2009
The Federal Housing Administration is proposing to increase the up-front cash paid by borrowers as part of an effort to shore up the agency’s finances, which have been staggered by rising defaults in its flagship mortgage insurance program, according to FHA officials.
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