Getting your player ready...
WASHINGTON — The Federal Housing Administration is tightening rules for lenders after reporting that its financial cushion will sink below mandatory levels for the first time in its 75-year history.
Officials, however, insisted Friday that the agency won’t need a rescue.
“Under no circumstance will any taxpayer bailout be needed,” said David Stevens, FHA commissioner. The agency doesn’t expect to raise fees for borrowers, he said, or curtail the number of loans it insures.
