Fixing FHA’s Certification: Time to Turn a Sword into a Plowshare

Note

Fixing FHA’s Certification: Time to Turn a Sword into a Plowshare

September 3, 2015

Abstract

On September 1, 2015, the Federal Housing Administration (FHA) proposed changes to the certifications that lenders make when submitting a loan for FHA insurance. The step is a much-needed attempt to better target the significant liability that lenders face for mistakes in loan files. The author discusses why the effort is important and what changes are needed for it to succeed.

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