Trump administration silent on details but disputes the accuracy of a Feb. 18 report by Bloomberg Law that at least 40% of FHA's workforce are set to be laid off as part of cost-cutting initiatives
Mortgage lenders have renewed their calls to slash Federal Housing Administration mortgage insurance premiums to help buyers struggling with elevated housing costs and mortgage rates
Having slashed premiums on new FHA loans by 35% in March, and with insurance in force growing faster than reserves, HUD officials are showing no signs they'll give in to industry demands
Premium cuts are expected to save borrowers $678M a year but don't apply to existing loans or release homeowners who have built up equity from 'life-of-loan' requirements
Black Homeownership Collaborative also asks HUD to ditch a 'life of loan' requirement that forces homeowners to continue paying mortgage insurance premiums in perpetuity