Steve Mnuchin, President Trump’s pick to be Treasury secretary, said that he opposed a “recap and release” plan for Fannie Mae and Freddie Mac during his Senate confirmation hearing on Jan. 19.
Recap and release would mean recapitalizing Fannie Mae and Freddie Mac and then releasing the two mortgage giants from government control.
President Donald Trump signed an executive order on Jan. 20 cancelling a decision made by the Obama administration to lower Federal Housing Administration annual mortgage insurance premiums by 25 basis points to 0.60%.
In a move that will make home loans more affordable, the Federal Housing Administration announced today that it will reduce the annual premiums most of its borrowers pay on mortgage insurance premiums by 0.25 percentage points from 0.85% to 0.60%. The agency said that the new lower premium rates are projected to save new FHA-insured home owners an average of $500 this year.
The Bloomberg Editorial Board has outlined a thoughtful approach to transition Fannie Mae and Freddie Mac and attract badly needed private capital back into the marketplace.
Illinois home builder Ed Brady, who is also the outgoing 2016 NAHB chairman, is among the candidates that the Trump transition team has talked to about becoming the next Federal Housing Administration (FHA) commissioner.
NAHB is urging members and HBAs to voice your concerns with a new HUD floodplains management proposal that fundamentally threatens access to FHA mortgage insurance programs for single-family home buyers and multifamily builders.
The Federal Housing Finance Agency (FHFA) today announced that the maximum baseline conforming loan limit for mortgage loans acquired by Fannie Mae and Freddie Mac in 2017 will increase to $424,100 from $417,000. This will be the first increase in the conforming loan limit since it was raised to $417,000 in 2006. The Housing and […]