For Immediate Release
Contact: Scott Olson
571-527-2601
The Community Home Lenders of America (CHLA) released the following statement in response to this morning’s release of the FHA MMIF Report:
“The Community Home Lenders of America (CHLA) renews its longstanding call for FHA to cut annual premiums and end its Life of Loan policy, in the wake of today’s MMIF financial report showing growing reserves and Net worth more than 5.5 times its statutory requirement.
CHLA appreciates the technical budget scoring issues raised by cutting premiums-but the doubling of mortgage rates since the start of this year makes these actions more critical than ever.”
CHLA has continuously been calling for a premium cut and end of Life of Loan since 2016–most recently in its annual 2022 IMB Report released just last month.
FHA MMIF Report: https://www.hud.gov/fhammifrpt