Manufacturing Industry
HUD steps up efforts to boost homeownership. (US Department of Housing and Urban Development Secretary Andrew Cuomo proposes a higher ceiling on Federal Housing Authority mortgage insurance)
Professional Builder (1993), March, 1998
In proposing a higher ceiling on FHA mortgage insurance, HUD secretary Cuomo projects about 600,000 more people would enter the housing market annually. If all goes according to plan, builders can look forward to millions of new homeowners entering the market in the next five years. Andrew Cuomo, secretary of the U.S.
Department of Housing and Urban Development (HUD), says he's confident Congress will approve a higher ceiling on mortgages insured by the Federal Housing Administration (FHA). Submitted last month in President Clinton's 1998 fiscal budget, his proposal raises FHA insurance for mortgages of up to $227,150. The housing secretary announced his initiative at this year's International Builders' Show after meeting with leadership of the...
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