Well it's clear FHA is broke... and if you want a new FHA loan it will cost a little more. And that's OK, FHA still offers some of the most leverage and is the most credit and high debt to income ratio forgiving set of guidelines out there. If your loan request is over 80% don't go straight to FHA check out MI rates at 90-97% LTV and you many be surprised. Here is the link to the FHA mortgagee letter.
http://portal.hud.gov/hudportal/documents/huddoc?id=13-04ml.pdf
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