HUD Secretary Says No Plans to Cut FHA Premiums

The Secretary of the Department of Housing and Urban Development, Marcia Fudge, has ruled out (for now) a cut to the Federal Housing Association’s mortgage insurance premiums despite mounting delinquencies. So reports FloridaRealtors.

“Given the current FHA delinquency crisis and our duty to manage risks and the overall health of the fund, we have no near-term plans to change FHA’s mortgage insurance premium pricing,” Fudge said in a statement on HUD’s quarterly report to Congress.

The Mortgage Bankers Association issued a statement applauding the decision.

Read the full article from FloridaRealtors.

Source: themortgageleader.com