Bush Budget Suggests No Change in Enforcement Effort
The Bush administration wants to retool the FHA mortgage insurance program to recapture some business that has been lost to the nonconforming market, but appears willing to keep the status quo on mortgage law enforcement efforts. The administration’s fiscal 2007 budget says the White House will ask Congress for legislation that would allow the FHA to react more quickly to changes in the mortgage market and offer lenders a broader array of products. …