House bill puts squeeze on FHA buyers

"Who said Congress never get anything done? When it comes to sticking fingers in taxpayers’ pockets, sometimes both sides of the aisle come together and turn their constituents upside down to see if anything falls to the floor. On Thursday, in a near unanimous vote of 406 to 4, the House of Representative passed the FHA Reform Act (H.R. 5072). This new bill, on its way to the Senate, will enable the Federal Housing Agency (FHA) to restructure its current mortgage insurance premium program by tripling borrower’s annual premium cap."