FHA Under Fire from Congress

This week HUD Secretary Julian Castro was the witness at a hearing before the House Financial Services Committee entitled, “The Future of Housing in America: Oversight of the Federal Housing Administration”.  The hearing was very contentious. Nearly all Members of the majority criticized FHA’s recent reduction in FHA premiums since FHA is not at the required 2% capitalization ratio.  Democrats on the Committee praised the reduction, saying it will add new homeowners.  Many Republicans remain concerned about the financial strength of the FHA, especially in… Read More
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