Ben Carson

Supporters maintain hope that the Federal Housing Administration will revive a proposed premium cut, but a key obstacle remains: There's no one to run the agency.

The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.

The HUD secretary said millennials are being shut out of the market but the purchase of a condominium unit is often the first step to homeownership.

HUD secretary Carson tells lawmakers that the FHA's capital ratio is on an "upward trajectory," but he hasn't made a decision on another premium reduction.

The Federal Housing Administration's gateway to homeownership could be widened if the Trump administration takes actions to reduce mortgage insurance premiums and clarify lender penalties under the False Claims Act.

The delinquency rate of Federal Housing Administration-insured mortgages fell to a historic low in the first quarter, fueling more calls for a reduction in the agency's annual premium.

Affordable housing advocates are skeptical of claims by the Department of Housing and Urban Development that proposed cuts to the agency's budget will eventually be made up for by additional funding in the infrastructure bill.

Housing and Urban Development Secretary Ben Carson said that he will take stock of agency programs to determine their effectiveness and enact policies that invite more private capital into the housing market.

The Senate Banking Committee voted unanimously to approve the nomination of Ben Carson as secretary of Housing and Urban Development, sending his nomination forward to the full chamber.

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