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Released: February 13, 2017
FHA loans were getting cheaper until Trump suspended rate cut. Now what?
Source: Andrew Khouri, L.A.Times (Paid Registration)
An hour after Donald Trump took the oath of office last month, his administration caught the attention of the real estate industry when it abruptly suspended a planned cut in Federal Housing Administration mortgage-insurance premiums.
Despite the generous underwriting standards, the mortgage insurance premiums covered defaults and fully funded the FHA for decades — until it received its first taxpayer bailout in 2013 because of fallout from the housing bust. Since then, the agency’s finances have improved significantly, though that hasn’t assuaged concerns of some Republicans.
Read Full Article: FHA loans were getting cheaper until Trump suspended rate cut. Now what?
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