The Federal Housing Administration (FHA) has already stepped into a greater role as part of the government’s economic stimulus and real estate revitalization effort. The agency has recently experienced a substantial increase in the number of conventional borrowers refinancing into FHA-supported products. Refinancing business has tripled within the past two years at the FHA, as consumers seek more affordable loans with smaller down payments and lower interest rates.
 
Two significant events at the agency target homeowners seeking affordable loans and alternatives to costly adjustable rate mortgages. The most recent is a change in the amount of mortgage money that the FHA can insure.
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