FHA Fund Doesn't Need Treasury Draw After All; Groups Call For Fee Reduction

SOURCE: Mortgage News Feed

The Federal Housing Administration (FHA) Mutual Mortgage Insurance Fund will have a positive capital reserve balance at the end of Fiscal 2014 estimated at $7.8 billion and will not require a draw from the U.S. Treasury. This news was contained in an overview of the FY 2015 budget for the Department of Housing and Urban Development (HUD) released today by HUD Secretary Shaun Donovan. The announced improvement of the fund immediately triggered a call from a lending industry group for FHA to reduce the premiums it currently charges homebuyers.

To read the entire article, please visit:
http://www.mortgagenewsdaily.com/03042014_hud_budget_fha.asp



About The Author

Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.