On Jan. 30, 2017, NAR sent a letter to Department of Housing and Urban Development Secretary Designee Ben Carson asking the Federal Housing Administration (FHA) to reinstate the 25 basis point reduction of the annual mortgage insurance premiums that would have applied to mortgages with a closing or disbursement date of Jan. 27, 2017 and to eliminate the life of loan insurance premium. The letter makes the following key points:
- The premium reduction would have reduced costs for 750,000 to 850,000 homebuyers in 2017 with mortgages backed by the FHA and would have made… Read More
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