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HUD investigates down payment aid programs

Jul 25, 2016
The Department of Housing and Urban Development (HUD) announced that it will investigate accusations that some Federal Housing Administration (FHA) lenders may be discounting guidelines on down payment assistant programs. 
 
HUD’s inspector general raised the issue earlier this year with a report that accused some FHA lenders of charging premium pricing, forcing some low- and moderate-income buyers to get stuck paying slightly higher interest rates. HUD had initially disagreed with the inspector general’s findings, but now the agency says it will investigate further.
 
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