FHA Loans  for Home Buyers  Today the mission of the FHA
includes helping borrowers get amounts they qualify for, and
assisting lenders by reducing their risk in issuing loans. By
serving as an umbrella under which lenders have the confidence
to extend loans to those who may not meet conventional loan
requirements, FHA's mortgage insurance allows individuals to
qualify who may have been previously denied for a home loan by
conventional underwriting guidelines.  Direct Mortgage   A
direct mortgage lender is simply a bank or lender that works
directly with a homeowner, with no need for a middleman or
broker. Mortgage bankers and portfolio lenders usually fall
under this category if they have retail operations. Examples
include Washington Mutual, Wells Fargo and Bank of America,
though smaller entities could share this distinction as well.
Mortgage Brokers  Mortgage brokers work independently with both
banks/mortgage lenders and borrowers, and need to be licensed.
Their job is to contact borrowers and bring in