Mortgage banking industry divided on FHA premium cut

HUD
By Sam Kerr
09 Jan 2017

The decision by departing Housing and Urban Development (HUD) director Julian Castro to cut the Federal Housing Administration (FHA) mortgage insurance premiums by 25bp has been met with a mixed response from the mortgage finance industry.

“After four straight years of growth and with sufficient reserves on hand to meet future claims, it’s time for FHA to pass along some modest savings to working families,” said Castro.  “This is a fiscally responsible measure to price our mortgage insurance in a way that protects our ...

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