Mortgage Industry Divided over Further Cuts to FHA Insurance Premiums

Scotsman Guide, Jan. 26, 2016–Whitman, Victor

Now that the Federal Housing Administration’s insurance fund has rebounded, some mortgage lobbyists say it’s time for the Obama Administration to cut the FHA’s mortgage insurance premiums for the second year in a row–but not all agree. Mortgage Bankers Association President David Stevens said a swing in the FHA’s home-equity conversion mortgage program, also known as a reverse mortgage, boosted the reserve to its required minimum level.