General World News

FHA borrower fee gridlock draws ire of industry

The Federal Housing Administration’s (FHA) decision to withhold a mortgage insurance premium cut has confounded mortgage policy experts and industry stakeholders.

HUD officials earlier this year said cuts to borrower fees depended on the number of borrowers behind on their payments. But during a Thursday press briefing, HUD officials said they are weighing “budgetary implications, tradeoffs within appropriations process and FHA’s role in the broader housing system,” when considering cuts to mortgage fees.

The briefing’s key points led several mortgage industry experts — including two former FHA commissioners — to suggest the FHA may be under pressure to details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com