We had a buyer last year who was approved for a loan by FHA standards and yet was denied by the lender (Chase in our case), so the link below is very interesting for those of us who want to sell houses to people who are able to get financing from an FHA loan originator. On the other hand, didn’t things like this contribute to the all-too-recent sub-prime mortgage meltdown debacle?! Is it a good idea for the government to go back to pressuring lenders like Wells Fargo to make loans to people with low credit scores?! My friend, John Pribble, brought this to my attention. Please read it and give me your thoughts.
Thanks,
Robin
http://www.realtor.org/rmonews_and_commentary/Articles/2011/1103_fivetowatch
