The Department of Housing and Urban development recently proposed to have lenders use risk-based premium pricing on single-family, Federal Housing Administration-insured loans that are assigned a case number on or after Jan. 1. But the Mortgage Bankers Association strongly has recommended a delay implementation to May 1, 2008, or approximately six months past the finalization of the structure. The proposed deadline is reportedly too short of a time frame amid lenders already devoting "technological resources to previously scheduled system updates and those required to keep pace with vast changes in the credit markets."
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