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If you, as a borrower or Realtor, have been suprised by the depth of information asked from you, you might gain insight from the Mortgage Process Blog written by an FHA underwriter.
An underwriter is the person who personally signs off on your loan when it is approved.  Underwriters who are authorized by HUD to underwrite FHA loans [...]

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Here is a good explanation of the proposed changes in regulations for the credit card industry.

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