Bill to Authorize Revised FHA Risk-Based Premium Plan Advances

A House panel this week approved legislation that would allow FHA to proceed with a “revised” risk-based premium plan. But the tradeoff was including language that would resurrect FHA’s troubled seller-funded downpayment assistance plan. The measure, which must clear the full House, faces a very uncertain fate in the Senate as Republicans as well as the Bush Administration oppose the downpayment assistance provisions. You can learn about theses proposed changes as well as all the changes included in FHA modernization legislation enacted this summer at an Inside Mortgage Finance, audio conference scheduled for 3 pm on Oct. 1. Click here for more info.