FHA

Gordon is currently president of the National Community Stabilization Trust, a nonprofit organization that promotes neighborhood revitalization and housing affordability.

The new calculation of borrowers’ monthly obligations will allow for a higher debt load from tuition, potentially opening eligibility to more Black applicants, according to public officials.

Between terms as Federal Housing Commissioner — where he oversaw Radian's government-run competitor — he served on the private mortgage insurer's board.

But private mortgage insurers should not see significant impact on business if a 25 basis point reduction were to occur sometime after 2021, according to BTIG.

Although the Federal Housing Administration's insurance fund is "well above" its legal minimum, HUD Secretary Marcia Fudge said the mortgage agency has no plans to cut prices.

The number of product offerings stayed at a level last seen in 2014 as slight gains in government and jumbo loans were offset by fewer conventional mortgages coming on the market.

The reduction currently under consideration by the Biden Administration would lead to even faster home price appreciation, especially in areas with moderate FHA presence, American Enterprise Institute’s Housing Director of Research Tobias Peter says.

The waivers to standard procedure will remain in place until December 2021.

Though the pandemic recession has driven up the delinquency rate on Federal Housing Administration loans, the president's appointees are widely expected to reduce mortgage insurance premiums by at least 25 basis points to make home loans less expensive.

Marcia Fudge told senators that her first priority as secretary would be to assist renters and homeowners struggling financially due to the COVID-19 pandemic.