Rep. Brown Introduces Bill on Guidance to Reduce Up-Front Premiums for Mortgages

by MYRA TUGADE Targeted News Service

WASHINGTON, March 4 -- Rep. Anthony G. Brown, D-Md., has introduced legislation (H.R. 1321) to amend the National Housing Act "to require the Secretary of Housing and Urban Development to issue guidance to reduce up-front premiums for FHA-insured mortgages if the capital ratio of the Mutual Mortgage Insurance Fund exceeds the statutory limit."

The bill was introduced on March 2. It was referred to the House Financial Services Committee.

For more information about this legislation, contact Rep. Anthony Brown in Washington at 1505 Longworth House Office Building, Washington, DC 20515; 202/225-8699; or in the district office at 9701 Apollo Drive, Ste. 103, Upper Marlboro, MD 20774; 301/458-2600.

Myron Struck, editor, Targeted News Service, Springfield, Va., 703/304-1897; [email protected]; http://www.targetednews.com

08M-Tugade 170304-1295514