More FHA Changes!!!

Big changes could be on the horizon for FHA loans. The House of Representatives just passed HR Twenty One Sixty Two also known as the Housing Financial Literacy Act of Twenty Nineteen. This would allow First Time Home buyers who complete a housing counseling program to reduce the Upfront Mortgage Insurance. Why would they do this? Well they have a Congressional Mandated Mutual Mortgage Insurance Fund which has quite the surplus, like in the BILLIONS. Now this would not be the first time FHA has done something like this, and should pass the Senate with ease.