FHA Reform

The Federal Housing Administration (FHA) is a federal agency created back during the Great Depression as part of the National Housing Act of 1934. The FHA was originally created in response to the dramatic decrease in home loans and homeownership during the Great Depression. The FHA has since outlived its original goal and currently undermines housing market stability by providing borrowers at high risk for default with loans to buy a home.

Briefs

Repealing the Federal Housing Administration (FHA)

Background: The Federal Housing Administration (FHA) is a federal agency created back during the Great Depression as part of the National Housing Act of 1934.…

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Blog posts

This Harmful Housing Rule Deserves to Be Overturned by Congress

By Norbert Michel, Research Fellow in Financial Regulations and John Ligon, Senior Policy Analyst and Research Manager In the last few months of the Obama administration, the…

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Senate Confirms Retired Neurosurgeon Ben Carson as Secretary of Housing and Urban Development

By Rachel del Guidice, Daily Signal Reporter The Senate confirmed retired neurosurgeon Ben Carson as the new secretary of the Department of Housing and Urban Development…

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Kashkari Highlights Too Big To Fail Reform

By Norbert Michel, Heritage Foundation Financial Regulations Expert It’s always good when a Federal Reserve Bank president talks about ending bailouts for large financial companies. …

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5 things Ben Carson should do in his First 100 days as HUD Secretary

What can Dr. Carson accomplish in his first 100 days?…

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Trump Blocks Last Minute Obama FHA Action 

On the way out the door, the Obama administration announced that the Federal Housing Authority (FHA) would cut the rate borrowers get on their mortgage…

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Obama Told Us ‘Elections Have Consequences.’ Here’s One Way to Reverse His Liberal Legacy.

By Senator Mike Lee (R-UT) “Elections have consequences, and at the end of the day, I won.” These were the infamous words President Barack Obama…

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Federal Financial Policies Collide and Consumers Lose

By Norbert Michel, Heritage Foundation Financial Regulations Expert For decades, the federal government has become increasingly involved in education and home mortgages—a phenomenon driven by…

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Government Intervention in Housing Has Always Been Bad. Here’s Why Today Is No Different.

By Claudia Sladick & Norbert Michel, the Heritage Foundation Ever since the federal government embedded itself into the U.S. housing market, it has caused problems…

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Why Mortgage Principal Forgiveness Policy Is a Bad Idea

By John Ligon, Heritage Foundation Policy Analyst There’s nothing like a “good crisis” to give the federal government an opening to spread its tentacles further…

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FHA will now Insure PACE Loans

Last Tuesday, the U.S. Department of Housing and Urban Development (HUD) announced that the Federal Housing Administration (FHA) will now insure mortgages on certain properties…

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FHA Announces New Changes to Troubled-Loan Program

Last week, under direction from the Obama administration, the Federal Housing Administration (FHA) will now force investors to prioritize reducing the principal amount borrowers owe…

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Real Estate Industry Groups Call on Congress to Enact GSE Reform

Last week, a coalition of real estate related groups including the American Bankers Association, the Mortgage Bankers Association, the National Association of Home Builders, the…

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How the FHA and NAR Work Together to Hurt the Little Guy

According to the National Association of Realtors (NAR), pending home sales have reached their highest level in over ten years. At the same time, the…

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Average Size of Purchase Loan Application at Record High

According to the Mortgage Bankers Association (MBA), the increase in average loan sizes for purchased mortgage applications is outpacing the recovery in housing prices. The…

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FHA Attempts to Help Borrowers with High Student Loan Debt, but it May Come at a Cost

At a recent 2016 Realtors Legislative Meetings & Trade Expo conference, U.S. Department of Housing and Urban Development Secretary Julian Castro announced changes to the…

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New HUD Guidelines Prevent Landlords from Denying Tenants with Criminal Background History

Last month, President Obama’s Department of Housing and Urban Development (HUD) reinterpreted the Fair Housing Act of 1968 to prevent landlords from using criminal history…

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Homeownership Rate Falls Again

According to the Commerce Department, the U.S. homeownership rate fell a seasonally adjusted 63.6% in the first quarter of 2016, the third lowest figure recorded…

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Energy Policy Modernization Act Amendment Weakens FHA Underwriting Standards

Last month, the Senate passed the Energy Policy Modernization Act of 2015 (S. 2012) by a vote of 85-12. While there were many reasons to…

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Existing Home Sales Tumble, Signs Point to Drop in Housing Demand

Existing home sales nationwide dropped by 7.1 percent from January to February as total units sold went from 5.47 million units to 5.08 million. The…

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Housing prices increase despite lack of demand

Home prices continued to climb in the final three months of 2015 despite cooling demand and declining home sales, according to the most recent quarterly…

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Reasons to be concerned with unanimously passed Condo Bill

In early February, the House of Representatives passed H.R. 3700, “Housing Opportunities through Modernization Act.” Proponents of the bill claim that it “updates” and “streamlines”…

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