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 FHA Ready If Congress Acts
14-06-2006
Government is famous for moving at a glacial speed. But not the "New FHA."
Though the first major Congressional overhaul of the Federal Housing Administration's mortgage insurance program in a decade has a long way to go in a short time, the agency is already thinking about how to implement the proposed changes, officials said. last week at the Mortgage Bankers Association's Government Housing Finance Conference here.
If lawmakers should allow the FHA to switch to risk-based pricing, as proposed in a House bill that is awaiting floor action, the agency would like to create a "little premium calculator" as a simple means of determining what FHA would charge to insure a particular loan, according to Meg Burns, director of FHA's Office of Single-Family Program Development.
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