Mortgage standards

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Chase Mortgage CEO to CNBC: FHA loans same as “subprime lending”

Sep 21, 2015By

Kevin Watters, CEO of Chase Mortgage Banking, said in an interview with CNBC on Monday that the Federal Housing Administration’s loan requirements look an awful lot like subprime lending, and they’re not in the subprime lending business. This is a bold statement given that these are the very loans that are supposed to expand the credit box to underserved borrowers.