House Committee Passes Bill to Make FHA Loans Less Expensive

HousingWire, June 13, 2019–Jessica Guerin
The bill – H.R. 3141, “The FHA Loan Affordability Act of 2019” – would repeal FHA’s policy that requires borrowers to pay mortgage insurance for the life of the loan. Instead, payments would cease when the outstanding loan balance reaches 78% of the home’s original value.