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The real estate industry faces “an enormous trust deficit with the next generation of homebuyers,” according to David H. Stevens, assistant secretary of housing at the U.S. Housing and Urban Development (HUD) and commissioner of the Federal Housing Administration (FHA).
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Recently, FICO revealed how various activities will likely affect borrower’s scores; this information was traditionally kept hidden away as part of the statistical mystique of the mortgage finance system.
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Consumers should be aware and prepared for the changes in the mortgage application process, said Dale Siegel, author of the book The New Rules for Mortgages.
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Wednesday, Feb. 8, 2012
