Jeanne Sahadi over at CNNMoney.com recently wrote this interesting piece on the moves toward FHA loans in the US:
BOSTON (CNNMoney.com) — If your credit is weak or your savings anemic, here are two phrases you’re likely to hear from mortgage loan officers in the next few years: FHA and mortgage insurance.
They’re part of a back-to-basics theme that was emphasized Monday at the annual conference of the Mortgage Bankers Association in Boston.
For those who entered the business in the past five years, they’ve only known the good times and will need to be re-educated, said Paul Bibb, CEO of National City Mortgage, who was on a panel of leading mortgage industry executives.
“You probably have a lot of loan officers who can’t spell FHA,” said Bibb.