The Consumer Federation of America sent the following letter regarding a Federal Housing Administration (FHA) request for information on single family minimum property requirements (MPRs).

The comment letter emphasizes that while MPRs help protect both homebuyers and the Mutual Mortgage Insurance Fund, they have become a barrier to FHA homebuyers in large part because of pervasive myths and misunderstandings that persist around them. To solve that problem, FHA should prioritize consumer and industry education and improve communications on the exact nature of the MPRs and impacts on closing timelines and transactions.