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The wholesale lending division of CitiMortgage is telling its current stable of loan brokers that it will not accept new registrations from third-party salesmen unless they've already been approved to do business with FHA.
"Brokers that are currently approved and recertified by FHA for 2010 will retain that approval until Dec. 31, 2010," the lender said in a new notice.
FHA, of course, is getting out of the broker approval business, ceding oversight to...