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April 10, 2014

Sorry Mortgage Bankers, FHA Chief Says It’s Too Early to Roll Back Premiums

By George Brooks

FHA chief Carol Galante reminded lenders that mortgage premium increases – five hikes from 2008 to 2013 – were necessary to protect the Mutual Mortgage Insurance Fund and properly price for the risk the government insurer was taking on.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

vote to see results