Today Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement in response to the Department of Housing and Urban Development’s (HUD) announcement indefinitely suspending a reduction to the Federal Housing Administration (FHA) annual mortgage insurance premiums:
“Just one hour after being sworn in, President Trump betrayed American homebuyers. Today, the Trump Administration declared its plan to indefinitely suspend President Obama's recently announced reduction to mortgage insurance premiums, a move that will force homebuyers to pay more for their mortgages. Just as homebuyers were about to receive a boost that would have saved them $500 per year, President Trump pulled the rug out from under them.
“Once again, Trump is showing what he really thinks of the middle class. On day one, Trump is proving that his administration will not have the interests of hardworking Americans at heart.”