The Federal Housing Administration is proposing to increase the upfront cash
paid by borrowers as part of an effort to shore up the agency's finances, which
have been staggered by rising defaults in its flagship mortgage insurance program,
according to FHA officials.
The changes also include raising minimum credit scores for borrowers who receive
FHA-backed mortgages and limiting the amount of money sellers can kick in, including
paying closing costs or giving free upgrades.
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