Reported 3 days ago
The Trump administration is set to lay off approximately 40-50% of employees at the Federal Housing Administration (FHA), a crucial agency that provides mortgage insurance for low-income and first-time homebuyers. This move, part of broader cuts across the Department of Housing and Urban Development, is expected to significantly impact the FHA's operations and the market as it has insured over 40 million home loans since 1934. Critics warn that these reductions could hinder the agency's ability to support vulnerable buyers and protect lenders.
Source: YAHOO