This should come as welcome news:
In a very positive sign, the commissioner for FHA announced yesterday that they do not intend to apply HVCC to any FHA loans. In his statement he says that FHA is aware of the problems that HVCC is causing. This is a huge positive for the consumer as HVCC has been nothing but a sharp poke in the eye to almost all consumers who have experienced its downsides.
via Mortgage News Daily.