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WASHINGTON (November 15, 2022) – National Association of Realtors® President Kenny Parcell issued the following statement Tuesday after the Federal Housing Administration (FHA) provided its fiscal year 2022 report to Congress.
"Realtors® applaud FHA for their impressive financial performance this past year and the agency's continuous efforts to address loss mitigation. Because of their strong financial stability, NAR once again calls on FHA to reduce the Mortgage Insurance Premium to help first-time and low- to moderate-income buyers as they face a high interest rate market. A substantial amount of FHA's insured loans in 2022 were given to first-time homebuyers, far outperforming other providers in the market to this demographic. NAR will continue working with FHA on extending their access to credit and other recourses to buyers across the country."
The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.
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