Posted To: MND NewsWire

The surprise reduction in FHA annual premiums announced last week by the current Secretary of Housing and Urban Development (HUD) may not survive long into the new administration. Ben Carson, M.D. President-elect Donald Trump’s pick to head HUD, said at his confirmation hearing on Thursday that he would consider reversing the cut, which current Secretary Julian Castro said would save the average FHA borrower around $500 per year. “Certainly, if confirmed, I am going to work with the FHA administrator and other financial experts to really examine that policy,” Carson said. Carson, himself a former presidential candidate, appeared before the Senate Banking Committee to present the case for his confirmation. In his revised opening statement, Carson, a pediatric neurosurgeon, said there is a “strong…(read more)