July 31, 2021

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Mortgage News

C.A.R. asks HUD and FHA to reduce mortgage insurance premiums to provide greater homeownership opportunities

THE ANGEL, March 31, 2021 / PRNewswire / – The CALIFORNIA ASSOCIATION OF REALTORS® (CAR) today made the following statement in response to the Department of Housing and Urban Development (HUD) announcement this week regarding the state of the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund (MMI):

“CAR continues to support the steps HUD and FHA took during the COVID-19 crisis to help housing and struggling homeowners during the pandemic,” said CAR President Dave Walsh, Vice President and Manager of the Compass San Jose Office. “Recognizing that the FHA is central to providing housing for families CaliforniaFor years, CAR has urged the FHA to lower the mortgage insurance premium. This provides greater home ownership opportunities and ensures that homebuyers using FHA loans do not overpay their mortgages. ”

As the nation moves beyond this crisis, CAR HUD and the FHA will continue to urge the lowering of mortgage insurance premiums in order for the recovery to be fair to those seeking home ownership while interest rates remain at all-time lows. ”

Pioneering … ® in California Real estate for more than 110 years that CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest government trade organizations in The United Stateswith more than 200,000 members dedicated to promoting real estate professionalism. CAR is headquartered in The angel.

SOURCE CALIFORNIA ASSOCIATION OF REALTORS® (AUTO)