Department of Housing and Urban Development officials have agreed to impose a moratorium on an FHA-insured reserve mortgage product, increase downpayment requirements on jumbo loans and take other measures to satisfy a Republican senator and reduce FHA’s risk profile.  

Sen. Bob Corker, R-Tenn., said the administrative changes that HUD secretary Shaun Donovan and acting FHA commissioner Carol Galante have agreed to implement will put FHA on a more sound financial footing.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry