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Bill Targets FHA Delinquencies, Warehouse Credit 

Jul 15, 2009By

The Department of Housing and Urban Development (HUD) secretary could be required to conduct an ongoing review of new mortgages that become 60 or more days delinquent within the first 90 days of origination if a Federal Housing Administration (FHA) reform bill introduced last week is passed. The 21 Century FHA Housing Act of 2009 — HR 3146 — aims to reform HUD and FHA processes to root out lenders with high incidences of delinquencies.

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