FHA

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  • Waters Introduces Legislation to Make FHA Mortgages More Affordable
    Posted in Press Releases on October 26, 2017 | Preview rr
    Tags: FHA, HUD

    Today, Congresswoman Maxine Waters (D-CA) introduced the Making FHA More Affordable Act, a bill to repeal the requirement that Federal Housing Administration (FHA) borrowers pay mortgage insurance premiums for the life of the loan, and reinstate the FHA’s previous policy of only requiring borrowers to pay premiums until the outstanding principal balance reaches 78 percent of the original home value. “Families who take out home loans through the Federal Housing Administration (FHA) should not be ... Read more

  • Waters Condemns the Trump Administration for Betraying Homebuyers
    Posted in Press Releases on January 20, 2017 | Preview rr
    Tags: FHA, HUD

    Today Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement in response to the Department of Housing and Urban Development’s (HUD) announcement indefinitely suspending a reduction to the Federal Housing Administration (FHA) annual mortgage insurance premiums: “Just one hour after being sworn in, President Trump betrayed American homebuyers. Today, the Trump Administration declared its plan to indefinitely suspend President... Read more

  • Waters Praises Castro for FHA Premium Reductions
    Posted in Press Releases on January 9, 2017 | Preview rr
    Tags: FHA, HUD

    In response to the U.S. Department of Housing and Urban Development’s (HUD) notice earlier today announcing the reduction of annual insurance premiums on most mortgages insured by the Federal Housing Administration (FHA), Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised HUD Secretary Julián Castro for his leadership in strengthening the FHA to carry out its mission to expand homeownership to low income borrowers, minority families, and first-time ho... Read more

  • Waters Criticizes Republicans for Politically-Charged Hearing with HUD Secretary
    Posted in Press Releases on July 13, 2016 | Preview rr
    Tags: FHA, HUD, Speeches and Committee Statements

    In opening remarks at a House Financial Services Committee hearing today with Secretary of Housing and Urban Development Julián Castro, Ranking Member Maxine Waters (D-CA) criticized Republicans for “hijacking a very important topic in order to launch attacks on the Secretary, and the Department, rather than substantively examine the issues impacting working people in this country.” Waters highlighted the need for changes to the HUD’s Distressed Asset Stabilization Program so that it can better ... Read more

  • Waters Lauds Rebound in FHA Backstop Funds
    Posted in Press Releases on November 17, 2015 | Preview rr
    Tags: FHA, HUD

    Following the release of the results of the most recent independent actuarial analysis, which indicate that the Mutual Mortgage Insurance Fund (MMIF) has reached its Congressionally mandated capital reserve ratio, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, applauded FHA’s efforts to both strengthen the MMIF and expand access to homeownership for low-to-moderate income working families in the wake of the worst financial crisis in a generation. In pa... Read more

  • Waters Praises Castro for FHA Premium Reductions
    Posted in Press Releases on February 11, 2015 | Preview rr
    Tags: FHA, HUD, Speeches and Committee Statements

    At today’s Full Committee hearing on the Federal Housing Administration (FHA), Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised Housing and Urban Development Secretary Julián Castro for his recent decision to lower FHA premiums. Over the next three years, the decision will provide an average of $900 in annual savings for approximately 2 million future homeowners and extend the possibility of homeownership to another 250,000 hardworking Americans cur... Read more

  • Waters Lauds Action to Lower FHA Premiums
    Posted in Press Releases on January 8, 2015 | Preview rr
    Tags: FHA, Housing Finance Reform

    Following President Obama’s announcement that the Federal Housing Administration (FHA) will reduce annual mortgage insurance premiums, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised the action as critical for the nation’s homebuyers. In October, 2014, Waters and Rep. Michael Capuano (D-MA), Ranking Member of the Subcommittee on Housing and Insurance, called on Secretary Julian Castro to provide relief from FHA’s mortgage insurance premiums, citing... Read more

  • Waters Statement on FHA Actuarial Report
    Posted in Press Releases on November 17, 2014 | Preview rr
    Tags: FHA

    Following today’s release of the Federal Housing Administration’s actuarial report, the Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following remarks: “Today’s announcement makes clear that FHA is on the right track, and is appropriately recovering from its unprecedented work keeping our housing market afloat during the worst economic crisis in a generation. While the FHA has not made full recovery, it’s important to remember that it is far... Read more

  • Waters Encouraged by Improvements at FHA
    Posted in Press Releases on December 13, 2013 | Preview rr
    Tags: FHA

    Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement in response to the release of the Federal Housing Administration’s fiscal year 2013 Annual Report: “Although the Federal Housing Administration is not completely out of the woods, today’s numbers show crucial improvements in its solvency and stability. FHA’s Mutual Mortgage Insurance Fund is heading in the right direction after a significant rebound. In total, FHA’s deficit was re... Read more

  • Waters Defends FHA Solvency
    Posted in Press Releases on October 29, 2013 | Preview rr
    Tags: FHA, HUD, Speeches and Committee Statements

    Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, delivered the following opening statement at today's full Committee hearing on the Federal Housing Administration’s reserves shortfall: As prepared for delivery: Thank you, Mr. Chairman. Commissioner Galante, I am very pleased you have appeared before this committee today. I would like to applaud your work in managing the Federal Housing Administration, which has provided an affordable pathway to homeownership... Read more

  • Waters Statement on FHA Reserves Shortfall
    Posted in Press Releases on September 27, 2013 | Preview rr
    Tags: FHA

    Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement in response to reports of a likely shortfall in capital reserve funds at the Federal Housing Administration: “During the worst of the crisis, when the private sector virtually left the market, the Federal Housing Administration stepped up and provided the liquidity that kept our struggling housing market afloat. This is the countercyclical role of FHA, as it has been throughout th... Read more

  • Waters: The Real Impediment to Private Capital is Inaction on Secondary Mortgage Market Reform
    Posted in Press Releases on April 24, 2013 | Preview rr
    Tags: Full Committee, Dodd–Frank Wall Street Reform and Consumer Protection Act, FHA, GAO, Housing Finance Reform, Speeches and Committee Statements

    In her opening statement today at a hearing of the House Committee on Financial Services, Congresswoman Maxine Waters, Ranking Member of the Committee, contested the notion that regulatory oversight is an impediment to recovery in the housing finance market. The title of the hearing called by the Republican majority is “Building a Sustainable Housing Finance System: Examining Regulatory Impediments to Private Investment Capital”. Waters repeatedly has urged her Republican colleagues to take up t... Read more

  • Waters and Capuano Reintroduce Bill to Strengthen Federal Housing Administration
    Posted in Press Releases on March 14, 2013 | Preview rr
    Tags: FHA, Housing Finance Reform

    Today Congresswoman Maxine Waters, Ranking Member of the House Committee on Financial Services, reintroduced the FHA Emergency Fiscal Solvency Act. The legislation, co-sponsored by Representative Michael E. Capuano, Ranking Member of the Subcommittee on Housing and Insurance, is designed to strengthen FHA and to help ensure its long-term solvency. In recent years, the agency has stepped into the void, providing crucial liquidity as private firms have retreated from writing mortgage insurance pol... Read more



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