|FHA' s new fat check $ 30 million|
HUD write’s itself a blank check on the backs of American Borrowers.
FHA is in the black, in fact they are profitable but they stuck
this thirty million dollar charge in 2015 and God knows
how much in the future hidden in Senate Bill 2438.
The Senate never voted on the bill, there in the fine print is an
okay to charge on your back what looks like a four percent surcharge. This is one fat check.
A mere forty dollars per one hundred thousand sounds small
but not when you do the math.
In three years it will be nearly a billion dollar bonus to all the
management of the federal Housing Administration.
They claim they need new software, but cough cough.
Don't worry, it will only make your mortgage cost more.
Call your Senator and put squash on big spending
for government jobs, unless of course you can
Wouldn't we all like a starting salary of $155,500?
Then pay yourself an unlimited bonus…
Full text of Senate Bill 2438 here https://www.congress.gov/bill/113th-congress/senate-bill/2438
opinions are my own
Fat Check for FHA
Posted by Caroline Gerardo