FHA to change mortgage insurance, down payment rules

01/31/2013 | AmericanBanker.com (free registration) · CNNMoney

In the face of a $16.3 billion shortfall, the Federal Housing Administration is proposing several changes to its lending standards. Among them, borrowers on jumbo mortgages would be required to make a 5% down payment, instead of 3.5%, and mortgage insurance premiums would go up by 5 or 10 basis points and would last the life of the loan.

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AmericanBanker.com (free registration) · CNNMoney

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