“WASHINGTON NEWS: The presumptive (next) chairman of the House Financial Services Committee wants to restructure a Federal Housing Administration reform bill so that riskier borrowers don’t have to pay higher mortgage insurance payments. NMN’s Brian Collins reports that Rep. Barney Frank, D-Mass — expected to chair the panel in the next session — is working on a bill that raises the FHA loan limit to the median house price in high-cost areas and allows the FHA to serve riskier subprime borrowers.”
This would be bad for affordability, I guess we know where the NARs political donations went.
Also it is not just NAR… All the PACs for all the big developers, all the PACs for the lenders…
If you really think about all the money pushing for policies like this, it is staggering. Meanwhile how many dollars go towards lobbying for opposing bonehead policies like this? nada….
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