U.S. housing regulators suspend plans to cut FHA premiums

Reuters News
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Posted: Jan 20, 2017 1:35 PM

By Sarah N. Lynch

WASHINGTON (Reuters) - The U.S. Department of Housing and Urban Development abruptly suspended its plan to cut FHA premiums for mortgage borrowers, according to a letter issued by the department on Friday.

The reversal, which came immediately after Donald Trump was sworn in as president, did not provide an explanation, saying only the reduction in premiums that was slated for Jan. 27 would be "suspended indefinitely."

(Reporting by Sarah N. Lynch; Editing by Alan Crosby)