Finance News Blog http://www.financenewsblog.com Just another WordPress weblog Thu, 11 Mar 2010 19:40:00 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 FHA Commissioner: Raising the Down Payment Requirement Would Hurt Housing Recovery http://www.financenewsblog.com/2010/03/fha-commissioner-raising-the-down-payment-requirement-would-hurt-housing-recovery/ http://www.financenewsblog.com/2010/03/fha-commissioner-raising-the-down-payment-requirement-would-hurt-housing-recovery/#comments Thu, 11 Mar 2010 19:40:00 +0000 Jann Swanson 2bb7a989-b681-446d-a7f2-bd5f0562f228:139741 Posted To: MND NewsWire

Increasing the minimum down payment required for a Federal Housing Administration (FHA) loan from 3.5 percent to 5 percent could be a double whammy, affecting both potential homebuyers and the economy as a whole according to David H. Stevens, FHA Commissioner. At the same time, a lower loan to value ratio (LTV) by itself is not a particularly good indicator of buyer risk. In a statement prepared for a hearing Thursday afternoon by the House Financial Services Subcommittee on Housing and Community Opportunity, the Commissioner said if the agency raised the minimum down payment to 5 percent "as some have suggested," it would adversely impact the housing market recovery. The agency has conducted an evaluation of the loan files of a large sample of recent loans to identify homeowners...(read more)

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]]> Posted To: MND NewsWire

Increasing the minimum down payment required for a Federal Housing Administration (FHA) loan from 3.5 percent to 5 percent could be a double whammy, affecting both potential homebuyers and the economy as a whole according to David H. Stevens, FHA Commissioner. At the same time, a lower loan to value ratio (LTV) by itself is not a particularly good indicator of buyer risk. In a statement prepared for a hearing Thursday afternoon by the House Financial Services Subcommittee on Housing and Community Opportunity, the Commissioner said if the agency raised the minimum down payment to 5 percent "as some have suggested," it would adversely impact the housing market recovery. The agency has conducted an evaluation of the loan files of a large sample of recent loans to identify homeowners...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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