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4 ORTON AMENDMENTS AIM TO ASSIST FHA BORROWERS

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Rep. Bill Orton, D-Utah, has pushed four amendments through the House Banking Committee that are designed to make it easier to obtain Federal Housing Administration loans.

One would eliminate the current ban against parents lending their children money to help them make a down payment on a house."For over two years, I have led the fight against this senseless regulation, which interferes with a parent's ability to help their child buy a home," Orton said. "I am pleased to see this fight pay off."

Another amendment pushed by Orton would increase how much the FHA may loan nationwide to at least $101,150, up from $67,500. "This change would significantly open up the FHA program in Utah (for higher priced homes)," he said.

Other Orton amendments would authorize the FHA to issue two-step, variable rate mortgages, and would eliminate outdated loan-to-value limitations on newly constructed homes.