Relevant:
- FHA Loan Limits Can Drop Much Further, Study Finds
- Study Finds That FHA Loan Limits Exceed Necessary Level for Intended Audience
- The Impact of Changes to FHA Mortgages
- CRL: Foreclosure Crisis Isn't Even Halfway Over
- FHA's Stevens Reports: Downpayment Assistance May Wind Up Costing the FHA $13.6 Billion
2011-02-10 — nationalmortgageprofessional.com
"The report recommends that FHA revert back to its traditional role: Helping first-time and low- to moderate-income homebuyers purchase homes, allowing the private sector to shoulder more of the risk associated with insuring larger loans. Specifically, the report finds that the 2008 expansion of FHA’s loan limits gives it the ability to insure nearly 90 percent of the available low downpayment market. As a result, FHA’s share of the home purchase market ballooned from more than 6 percent in 2007 to more than 56 percent in 2009. The report finds that loans valued at the highest levels—more than $350,000—perform approximately 20 percent worse than smaller loans that are within the historical scope of FHA."
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