I’m honored to be able to attend this event and represent the MBA and my company, Union Home Mortgage
Strongsville, OH (PRWEB) January 14, 2015
Union Home Mortgage Corp. (UHM) is proud to announce that their CEO and the 2015 MBA Chairman, Bill Cosgrove, attended President Obama’s housing speech in Phoenix, AZ. Not only did Cosgrove get to attend the speech, but he was also invited to a small gathering with the President afterwards.
“I’m honored to be able to attend this event and represent the MBA and my company, Union Home Mortgage,” Cosgrove said.
The President unveiled his plans to help increase homeownership in America by lowering the annual cost of the Federal Housing Administration’s (FHA) mortgage insurance premiums by 50 basis points.
The mortgage community is thrilled President Obama went through with the 50 basis point reduction in the annual FHA Mortgage Insurance Premium. This change will help make mortgages more affordable for first-time and low-income home buyers.
“As independent mortgage bankers, Union Home Mortgage does a significant amount of FHA lending, and I can assure you this 50 basis point reduction will have a positive impact on our borrowers,” Cosgrove said. The policies President Obama spoke on are ones the MBA have been lobbying for, some for several years.
“This shows how important the MBA’s presence is in the mortgage industry,” Cosgrove said. “It shows the influence we have when it comes to the debate over the housing issues we face in this country.”
With tight lending standards and higher insurance premiums on FHA mortgages, it has been difficult for many to buy a house in the U.S. But, with both foreclosures and home prices dropping, this FHA reduction could make a huge impact on getting buyers into homes.
If you would like to learn more about how this FHA 50 basis point reduction could affect you, contact a UHM representative today at UnionHomeMortgage.com.