3.30.21
On March 30, Department of Housing and Urban Development Secretary Marcia Fudge announced plans to not cut Federal Housing Administration (FHA) mortgage premiums. Many mortgage industry experts and investors had anticipated an FHA premium reduction under the Biden Administration. However, the decision came as a result of rising delinquencies and FHA’s attempt to render aid to struggling borrowers. Secretary Fudge stated the agency’s, “number one priority is helping families keep their homes and remain safe as we work toward an equitable recovery.”