The Federal Housing Administration (FHA) on Thursday announced that it has issued a waiver to a requirement that FHA-approved lenders flag rejected loans in the FHA Connection (FHAC) system, an effort the agency says will improve access to government-insured mortgage financing for qualified borrowers.

“FHA has determined that this flag does not improve risk management and is often why other lenders will reject an applicant even when that applicant might otherwise qualify for a loan,” the agency explained in an informational notice distributed on Thursday. “Currently, when a mortgagee details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com