This article from Affordable Housing Finance magazine online is a little lengthy, but a worthy read. It focuses mainly on improving HUD as a whole, but there are specific mentions of FHA. And technically, most problems with HUD as a whole translate into problems with the FHA.
If you don’t get to the whole thing, one big point is that a lot of people think Alphonso Jackson sucks. Personally, we all know I am a fan of the guy, but I can see where these people are coming from. Especially, considering that, according to the article, most HUD appointments are based on politics, not leadership qualities and ability. Now, that doesn’t sound like something this administration would do…

Here’s a radio transcript of a report on the National Association of Home Builders convention in DC and a comment by what is described as an “unlikely ally,” David Berenbaum of the National Community Reinvestment Coalition. This is what I like to see. The home builders association teaming up with an organization that supports people who probably get screwed by the likes of home builders rather frequently. Give it a few years and FHA loans are going to be ushering in world peace.

HUD put out a release yesterday summarizing Alphonso Jackson’s National Homeownership Month kickoff speech to the National Press Club. You can read the speech, but be warned it is 2,848 words. You can also check out the release, but know that it’s 837 words. Or you could just read this 22-word slice of knowledge and get back to your Sudoku:

Homeownership
The original American dream
Subprime is screwing
Tons of people
Particularly minorities
We’ve had enough
Fix FHA
Dreams become reality

The National Association of Home Builders (NAHB) is using the spotlight on National Homeownership Month to promote its backing of the reforms to FHA loans. NAHB was one of the many organizations who testified in favor of the reforms. The article points out two of the features of FHA reform that always goes unnoticed:

The bill would grant FHA greater flexibility in setting downpayment requirements for its single-family programs and establish a risk-based mortgage insurance premium pricing structure that rewards higher-risk borrowers who establish a track record of timely payments. The bill would also permit FHA to extend the maximum loan maturity to 40 years to enable borrowers to reduce their monthly mortgage payments and increase the current limit for FHA-insured mortgages to enable deserving potential home buyers to buy homes in high-cost areas.

The new flexible insurance and extended loan terms are two more ways that FHA reform could be an answer to the subprime crisis. All the support for National Homeownership Month is a great way for the message to get out.

Today marks the beginning of National Homeownership Month. This year’s theme is “Promoting and Protecting Homeownership,” and if I did not know any better I’d say Alphonso Jackson is reading my mind (or my blog). This month is all about promoting mortgage education – be it through homeownership fairs, workshops or one of the many other events being put on by HUD. A successful National Homeownership Month will be just what is needed to move the FHA Reforms through the Senate.