3rd UPDATE: FHA Wants To Raise Annual Borrower Premiums (Nasdaq)
(Adds comments from Donovan and more details.) WASHINGTON -(Dow Jones)- The Federal Housing Administration, faced with depleting capital reserves, is seeking authority from Congress to raise annual borrower premiums as well as new powers to shield its insurance fund from fraudulent lenders.
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3rd UPDATE: FHA Wants To Raise Annual Borrower Premiums (Nasdaq)
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Tags:
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federal,
federal-housing,
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Tags:
borrower-premiums,
congress,
donovan,
federal,
federal-housing,
from-fraudulent,
insurance fund,
jones,
new-powers,
premiums-as-well,
raise-annual,
seeking-authority,
shield-its
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A rise in interest rates or a reversion in accounting rules will destroy their profits and most likely, send them to bankruptcy ? which in all honesty, is where voters want them to be. All they are is a massive tax on the ...... ?FHA commissioner David Stevens said at a House hearing Thursday that his agency would insure 300000 fewer loans per year if the mandatory down payment was hiked from the current level of 3.5 percent to 5 percent. That's a 40 percent drop.? ...