Consumer advocates and prominent housing industry trade groups want federal agencies to lower mortgage fees, the Washington Post reports.
According to housing reporter Dina ElBoghdady, FHA loans have been a popular choice for first-time homebuyers and low-income families “because they require a down payment of only 3.5 percent.” But after the housing bust, “annual premiums” tacked onto mortgage installments have been raised five times since 2010, and these fees add up.
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