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Home » Store » Government-Insured Lending » Galante Departing FHA Amid Gripes About Premiums; IG Says HUD Missed Opportunities on Indemnifications

Galante Departing FHA Amid Gripes About Premiums; IG Says HUD Missed Opportunities on Indemnifications

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FHA Commissioner Carol Galante is slated to depart the agency in a few weeks, leaving in her wake a healthier Mutual Mortgage Insurance Fund, but her withdrawal comes amid gripes from some lenders that agency premiums are too high, hurting the first-time homebuyer market. Several industry officials give Galante high marks for not caving to industry pressure on reducing FHA premiums, and for trying to build bridges to originators at a time when the Inspector General of the Department of Housing and Urban Development and Justice Department continue to target lenders for their “legacy” production. One consultant who represents FHA lenders said...
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