Commish says FHA doesn’t intend to apply HVCC

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.

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4 Responses to Commish says FHA doesn’t intend to apply HVCC

  1. This is welcome news.
    HVCC has hit many agents hard in our area and I am sure around the country…

  2. Bank of America says that it will remain in the wholesale channel and even sees some year. Lend America, a non-depository FHA lender based in Melville, NY

  3. Sam Chapman says:

    HVCC has caused huge problems and needs to be repealed ASAP.

  4. luis says:

    The Commissioner for FHA announced yesterday that they do not intend to apply to any loans HVCC FHA. so its really in his statement to say that FHA aware of the problems caused by HVCC. undated20pcoin

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