Probable Delay, Possible Reversal for FHA Premium Cut

Posted To: MND NewsWire

Secretary of Housing and Urban Development (HUD) nominee Ben Carson said at his confirmation hearing, “Certainly, if confirmed, I am going to work with the FHA administrator and other financial experts to really examine that policy.” He was talking about an earlier announcement from the current HUD head that FHA insurance rates were going to be cut. On January 12, when Carson made that remark, most everyone viewed it as a throw-away line . Now not so much. As background, on January 9, current HUD Secretary Julian Castro announced a 25-basis point cut in the annual premium charged for FHA insurance. The reduction, scheduled to go into effect on January 27 , would return FHA annual premiums almost back to where they were before a crisis in the FHA insurance fund caused substantial hikes in both…(read more)

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