FHA Strengthens Requirements for Lenders**
Since 1993, the FHA required lenders to have a net worth minimum of $250,000. Effective immediately, all new lenderA Lender is a person, company, corporation, or entity that lends money for the purchase of real estate. applicants must possess at least $1 million in net worth.
Read the press release from the Federal Housing Administration at ThinkGlink.com