Realtors Welcome Feds HAWK Program, But Say More Reforms Needed
The nation’s leading group of realtors has welcomed the U.S. Department of Housing
and Urban Development Homeowners Armed with Knowledge, or HAWK, housing
counseling pilot program that aims to...
More
Realtors Welcome Feds HAWK Program, But Say More Reforms Needed
The nation’s leading group of realtors has welcomed the U.S. Department of Housing
and Urban Development Homeowners Armed with Knowledge, or HAWK, housing
counseling pilot program that aims to reduce mortgage insurance premiums for firsttime buyers.<p>
In a letterto the HUD, the National Association of Realtors also expressed concern the
program will not significantly reduce premiums or reach enough qualified buyers.
“As the leading advocate for homeowners, Realtors are concerned about FHA’s high
annual mortgage insurance premiums and the insurance requirement for the life of the
loan,”said NAR President Steve Brown, co-owner of Irongate, Inc. Realtors in Dayton,
Ohio. “FHA fees make up nearly 20 percent of a monthly mortgage payment today and
are making itmore difficultfor qualified buyers to purchase a home. Since FHA is on
target to meet and exceed its capital reserve requirements in the next fiscal year, we
encourage F
Less
