FHA does a solid for mortgage credit rejects. Will it move the needle for loan officers?
Housing Wire
SEPTEMBER 14, 2023
Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. The problem is, a mortgage credit reject (MCR) is kind of like your scarlet letter, to be completely honest,” Gastelum said. That changed on September 11.
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