With more mortgage players looking to use the FHASecure program to refinance troubled borrowers, FHA is coming under increased pressure to loosen the underwriting requirements of the closely-watched initiative.
And there is growing speculation that FHA may announce some significant enhancements to FHASecure in the next few weeks. Specifically, mortgage servicers are hoping that FHA will expand the types of delinquent borrowers that qualify for a refinance beyond those dealing simply with interest-rate adjustments and higher payments.
Such a change would need to include increasing the number of late or delinquent payments borrowers have outstanding at the time of a refinance, advocates of loosening FHASecure say.
Possible changes in the FHASecure program will be covered in an audio conference that Inside Mortgage Finance is hosting on Wednesday, March 12, at 3 pm EDT. Click here for more info.
