News Links: FHA to Reduce Annual Premiums – 1/08/15

Mortgage News Daily – Rob Chrisman – January 8, 2015
And we heard from various organizations. “‘The Community Home Lenders Association commends the President for announcing that FHA will be reducing the annual premiums it charges by 50 basis points,’ said Scott Olson, Executive Director of CHLA.  ‘As we noted when we first called for a reduction almost a year ago, this is a big step in making mortgage loans more affordable and helping more qualified borrowers buy a home.’ CHLA first called for a significant reduction in FHA premiums in February 2014, and renewed its call for a reduction in a letter to HUD Secretary Castro just last month.  CHLA has noted that an improving FHA Fund, along with strong loan performance mean that this important step can be taken in a financially responsible fashion.”