Democrats and Republicans on the House Financial Services Committee have introduced competing bills to reform the Federal Housing Administration single-family program.These bills differ mainly on the pricing of mortgage insurance premiums. The reform bill introduced by Judy Biggert, R-Ill., H.R. 1752, is the same bill the House passed by a 415-7 vote last fall. It authorizes the agency to charge risk-based premiums, which the Bush Administration supports. "My bill will give low- and moderate-income borrowers a safer alternative to the kinds of subprime loans that quickly go south," Rep. Biggert said. The FHA bill introduced by Rep. Maxine Waters, D-Calif., and committee chairman Barney Frank, D-Mass., also is directed at offering borrowers a safer and more affordable alternative to subprime loans. However, the Democrats bill essentially keeps the current FHA premium structure in place so everyone pays the same premium. To cover higher losses associated with subprime lending, Rep, Frank recently said he wants to tap revenues generated by changes to the profitable FHA reverse mortgage program to subsidize single-family premiums.
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Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
October 2 -
Developments like the downward swing in total jobs reported Friday, inflation and AI have made nonbank employment more complex and volatile this year.
October 2 -
Single-family mortgages originated with new scores have been put into private securitizations but these typically have been submitted alongside classic FICOs.
October 2 -
The collaboration comes after HUD issued several other updates earlier this year aimed at increasing affordability through loosened homebuilding policy.
October 2 -
Southeast impairments run 150 bps above other regions and alt-doc loans are up 200+ bps since 2025, while DSCR and full-doc improve. Time to review overlays.
October 2 -
Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
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