In underwriting FHA-backed loans, lenders apply their own credit score requirements, which are significantly higher than the agency’s minimum. “What’s happened is Bank of America, JPMorgan Chase, whoever is making the FHA loan , …
See the original post:
What the FHA's New Criteria Mean for Housing
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Fraud for Property, also known as Fraud for Housing, usually involves the borrower as the perpetrator on a single loan. The borrower makes a few misrepresentations, usually regarding income, personal debt, and property value or there are down .... In support of the FHA loan applications, the defendants allegedly created and submitted false and fictitious bank statements, leases, IRS Forms W-2, verifications of past mortgage payments, pay stubs, attorney escrow letters, ...