Washington, DC – (RealEstateRama) — Today, in reaction to the Trump Administration’s action to raise Federal Housing Administration (FHA) mortgage premiums, NCRC President and CEO John Taylor made the following statement:
“This move makes mortgages more expensive for working class people. It will further dampen the housing market, where already there are many responsible creditworthy borrowers who are needlessly locked out from homeownership opportunity. Raising Federal Housing Administration (FHA) premiums throws up more barriers to economic mobility, and blocks working families from attaining the American dream.
“Already, President Trump’s commitment to working families is in question. In his speech today, he spoke to the importance of government working for the people. He immediately followed with this action, which stands in stark contrast to that ideal.”
NCRC and its grassroots member organizations create opportunities for people to build wealth. We work with community leaders, policymakers and financial institutions to champion fairness in banking, housing and business development.