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MBA Statement on FHA Mortgage Insurance Premium Reduction

WASHINGTON, D.C. – (RealEstateRama) — David H. Stevens, President & CEO, Mortgage Bankers Association, released the following statement today regarding HUD’s decision to reduce Mortgage Insurance Premiums for FHA single family loans:

“The reduction in the premium is a result of our industry’s and FHA’s shared commitment to quality underwriting, and consumers will benefit as result. Reducing the cost of FHA loans benefits borrowers, but other changes to reduce uncertainty for lenders would be required to truly invigorate the FHA program. MBA looks forward to continuing to work with all stakeholders, including the new Administration, to ensure the safety and soundness of the FHA program.”

Rob Van Raaphorst

(202) 557- 2799