“We continue to believe that getting the loan-level certification requirements right is of enormous consequence to consumers, lenders, and the well-being of the FHA program. It will enable more borrowers to have access to safe and affordable mortgage credit, assist FHA to operate a safe and sustainable mortgage insurance program with effective quality control, and provide lenders with the clarity they need about enforcement standards to expand access to FHA-insured mortgage credit. Providing greater clarity to lenders on how FHA will address potential loan defects will encourage more lenders, particularly larger depository institutions, to participate in the FHA program.”
