MBA Statement on the Suspension of the MIP Reduction
|Rob Van Raaphorst|
|(202) 557- 2799|
WASHINGTON, D.C. (January 20, 2017) -David H. Stevens, President & CEO Mortgage Bankers Association, released the following statement regarding the Trump Administration's decision to suspend the recent reduction of the FHA mortgage insurance premium:
"We recognize the Administration's need to examine the overall health of the insurance program and weigh that against the benefits of lowering mortgage insurance premiums. Given that lenders have already started preparing for the MIP decrease, it is important that any new policy be implemented in a way that minimizes disruption for borrowers and lenders. MBA looks forward to working with the new Administration to ensure the long term stability of the FHA program, creating an environment that provides clarity in regulations for lenders while at the same time promoting access to credit and protecting consumers."