New FHA rules?

[John Williams]

I talked to a mortgage broker this evening who is worried about his job. He says that there will be new licencing rules, I think he said a regular licenced broker will now be able to do FHA loans. Not sure.

Also he says that they are going to create a new rule that prohibates (spell?) them from earning "back end profits" they will only be able to earn money from the origination fees.

He also says that FHA insured loans will now hold the lender more responsible, Ithink he said they will be responsible for and default in the first year. And minimum FICO scores are going up from 620-640.

I am definately not an expert on the matter so take all this with a grain of salt.

Anybody know if any of this stuff is true?