FHA Lender Cited for ‘Unallowable’ Downpayment Assistance

Congress banned the use of downpayment assistance on FHA-insured loans in 2008 but one Phoenix lender just got caught for reimbursing charitable housing groups that provided gift downpayments to homebuyers.

Article source: http://www.nationalmortgagenews.com/dailybriefing/fha-lender-cited-for-unallowable-downpayment-assistance-1038454-1.html

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