Senate Committee Approves FHA Bill

Author:  //  Category: Mortgage

A proposed law that would strengthen the Federal Housing Administration has made it out of a U.S. Senate committee — a development that was lauded by mortgage bankers.

Earlier this month, the Senate Banking Housing and Urban Affairs Committee released details on the proposed legislation known as S. 1376, the FHA Solvency Act of 2013.

Among other things, the bill would raise the caps on FHA mortgage insurance premiums, impose Qualified Mortgage standards on FHA-insured loans and expand the scope of indemnification and mortgagee termination.

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Senate Committee Approves FHA Bill


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