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First-Time Homebuyers Could See Mortgage Fees Lowered

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The Federal Housing Administration has sent its borrowing fees soaring over the last five years in an attempt to rebuild its dwindling cash cushion.

But now that the agency has finally gotten its cash reserves back into the black, many financial experts are urging the FHA to bring those fees back down.

“It’s time for FHA to do as deep an analysis as possible on this issue,” Julia Gordon, CAP’s director of housing finance and policy, told The Washington Post. “We’re very concerned that people are being unnecessarily shut out. It’s important for taxpayers to be protected. But at the same time, the people being shut out are also taxpayers.”

Image via flickr/401(k) 2012

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