By Joe Light | The Wall Street Journal
In January, President Barack Obama announced a major mortgage fee cut for some lower-wealth borrowers. The fee cut brought praise from the real-estate industry and affordable housing advocates but ire from conservatives who thought it would result in riskier mortgages and lower revenues for the cash-strapped agency.
More than half a year from the cut, the number and mix of loans being backed by the Federal Housing Administration have changed markedly. Here’s what happened and how the change affected the mortgage market.
What happened in January?
