The Federal Housing Administration (FHA) has dropped a policy change that could have made it harder for some consumers to qualify for an FHA-backed mortgage. The policy, which would have gone into effect July 1, would have required borrowers to resolve some outstanding collections or disputed unpaid bills before they could be approved for a mortgage, the Daily Herald reports.
In other news:
Freddie Mac: Mortgage rates remain at all-time record lows. (Freddie Mac release)
Homebuilders more confident about the Chicago market. (Chicago Tribune)