The new FHA risk based mortgage insurance guidelines are set to take effect on July 14, 2008. They were originally set to take effect on January 1, but FHA held off due to public comments. The new guidelines appear to answer most of the concerns that I had about the original proposal.

The most notable part of this policy is that, although there is still substantial leniency, this is the first official adoption of minimum credit scores for the FHA program.

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