I would hope that Dave Stevens has the ability to hire a lot more workers at Federal Housing Administration because if certain regulators get their way, his government insurer may soon be swamped with a flood of new business. NMN's Brian Collins has learned that federal regulators are looking at setting a 20% downpayment requirement for mortgages that will be considered safe and consumer friendly enough to be labeled as "qualified residential mortgages." If it turns out this way, private MI firms may benefit, but we're told that FHA will really benefit. Details in Monday's National Mortgage News. Stay tuned…
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