Private Mortgage Insurer's View on the FHA Mortgage Insurance Premium Suspension #homeownership #realestate

Source:  Housing Wire

When the Department of Housing and Urban Development said it suspended the reduction of FHA mortgage insurance premiums, it helped the private mortgage insurance market retain $10 billion in volume.

Duane Duncan, head of government relations at Genworth, explained what the suspension means for private mortgage insurance companies since the two industries (government vs. private mortgage insurance companies) have become competitors as of late.

Duncan said it's not surprising that the reduction got caught up in all the things that were getting rolled back by President Donald Trump.

The Obama administration waited until the last second to reduce FHA mortgage insurance premiums, lowering it the same month former President Obama exited the office.

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