18 Mar 10 FHA Market Share
FHA has been in the mortgage news a lot over the last year because of the low mortgage rates and the increasing number of FHA loan defaults. In a recent article posted on the FHA Loan Blog, the topic of FHA market-share was evaluated. FHA credit guidelines were announced that the will accept lower fico borrowers who are willing to come up with a larger down-payment when buying a home.
Many industry insiders believe that FHA will lose some of their market share because of new FHA requirements and tighter FHA guidelines. FHA mortgage rates remain ridiculously low, but most first time home buyers are having a difficult time qualifying for a FHA home loan. Time will tell if American consumers will continue to use FHA mortgage loans for refinancing. Rising mortgage insurance premiums and their higher credit score requirements certainly are not helping matters. Read the original article – Is FHA Losing Market Share for Home Loans?
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