FHA Clamps Down on Risky Government-Backed Mortgages

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FHA Clamps Down on Risky Government-Backed Mortgages
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The Federal Housing Administration is tightening its standards, which could mean some first-time home buyers are unable to get mortgages

The Federal Housing Administration told lenders this month it would begin flagging more loans as high risk.

Those mortgages, many of which are extended to borrowers with low credit scores and high loan payments relative to their incomes, will now go through a more rigorous manual underwriting process, the FHA said.

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