HUD Submits Housing Reform Plan To The President
The U.S. Department of Housing and Urban Development (HUD) recently submitted a plan to President Trump proposing to overhaul & reform the Nation’s housing system. The plan was developed along with an accompanying one from the U.S. Treasury department pursuant to a memorandum from the President back in March of this year. HUD says the plan ensures FHA and Ginnie Mae can continue to serve their important missions effectively, responsibly, and sustainably for many years to come as well as accomplishing four objectives:
- Refocuses FHA to its core mission
- Protects American taxpayers
- Provides FHA and Ginnie Mae the tools to appropriately manage risk
- Provides liquidity to the housing finance system
The U.S. Treasury Department submitted a plan to reform the housing finance system through a series of recommended legislative and administrative reforms that are designed to protect American taxpayers against future bailouts, preserve the 30-year fixed-rate mortgage, and help hardworking Americans fulfill their goal of buying a home.