The Real Deal Miami

Fed loans supply lending burst

March 17, 2009 09:52AM

Changes to loan limits and down payments make Federal Housing
Administration borrowing the most popular option for home buyers. The
loans are sarcastically called “government backed subprime mortgages,”
but the underwriting procedures are more rigorous than those used by
many private lenders, said Bobby Bashwiner of Group One Mortgage in
Jupiter. Income verification and documentation are important aspects of
the federal loans.