Declining FHA Mortgage Volume Mirrors Market, HUD’s Castro Says
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U.S. Housing and Urban Development Secretary Julian Castro said a decline in lending backed by the Federal Housing Administration reflects a broader drop in the mortgage market and isn’t specific to the government insurer.
Castro, who joined HUD in July, said in a interview today that the agency wants to ensure entry-level borrowers get loans and is making it a priority to work with lenders to provide greater certainty about FHA rules.