Mixed blessing

The FHA Stabilization and Reform Amendment : • Set the minimum FICO credit score for all new FHA-insured loans at 620 to better heed market standards • Require a 20% down payment for newly insured FHA-backed loans for borrowers seeking a new mortgage within 7 years of...

More fed meddling

In an effort to boost the housing market, the federal reserve has taken a new and unusual step. Instead of merely buying treasury bonds to lower mortgage rates, it is now going to buy mortgage backed securities. You know them- the toxic ones that caused the problem in...