FHA Mortgage Insurance Guideline Changes Does Anyone Know?

it would not suprise me in the least, and to be truthful, it is not a bad policy, even though it does hurt you. If what the agent is saying is correct, I have to agree with this change. Put yourself in FHA's shoes for a moment. If you were being asked to lend x amount of dollars, wouldn't you want to see that who you are lending to has a sustained source of income to repay the loan? This is exactly the type of policy that should have been put in place years ago, along with many others, so that we wouldn't be in this position today. I'll take this a step further for you. With the way PMI companies are working today, they may move to the same policy as well. They want to make sure you can repay the loan as well as if you do not, they are on the hook for a portion of the investor loss. I have lost many deals due to the fact that the seller's mortgage was less than 2 years old, and if the seller didn't contribute to the mi conmpanies loss, they deny the short sale. I'm also hearing that mi companies are also disputing appraisals now, meaning that they are actually completing their own valuation of the property and if they do not agree with the lender's appraisal, they are rejecting the loan, which again, is something that should have been occuring a long time ago. While I understand your plight, a good portion of the reason why the economy is in the state it is in is because lenders looked past the ability to repay a loan