General World News

HUD secretary suggests openness to changing FHA ‘life of loan’ requirement

Secretary of the U.S. Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

Sitting for a HUD oversight hearing conducted by the U.S. House of Representatives Financial Services Committee on Jan. 11, Rep. Brad Sherman (D-Calif.) first brought the issue up by saying it is an important element to address for the kinds of people who most commonly make use of details ⇒

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