They have been considering tightening the lending requirements for FHA loans for quite a while.  We definitely like to keep informed on major changes in lending programs.  This could be a big one that affects a lot of people that are trying to get into their first home or don’t have a lot of money to put down on a house.

Tighter lending requirements for loans insured by the Federal Housing Administration may leave some borrowers unable to get mortgages, but economists are divided on the impact they could have on housing’s recovery.

The changes, aimed at strengthening the FHA’s reserves in the face of rising foreclosures, shouldn’t hurt too many borrowers, officials say.

“We don’t expect this to have a significant impact on the housing market,” says FHA Commissioner David Stevens, adding that “the moves are designed to get the reserves back up.”

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