CHLA Opposes HUD’s Plan to Reduce FHA’s Housing Footprint

The Community Home Lenders Association sent an Oct. 8, 2019 letter to FHA Commissioner Brian Montgomery opposing HUD’s efforts to reduce FHA involvement in the nation’s housing market.

“CHLA is opposed to proposals in the Plan to limit FHA loans to borrowers not served by traditional underwriting, to eliminate FHA loans for repeat borrowers and for conventional to FHA refinances and to reduce availability of cash-out refis,” the CHLA letter states.

“CHLA also opposes risk-based pricing (referred to in the Plan as “tiered” pricing) and opposes any Congressional action to increase the MMIF net worth requirement, using risk-based capital.”

Read the news release here:

CHLA NEWS RELEASE – Letter Opposing Reduction in FHA Footprint