Civil and Human Rights Coalition Applauds FHA Plan to Lower Mortgage Premiums

WASHINGTON – Wade Henderson, president and CEO of The Leadership Conference on Civil and Human Rights, issued the following statement in response to the Obama administration’s announcement that the Federal Housing Administration will lower annual mortgage insurance premiums from 1.35 percent to .85 percent:

“The Federal Housing Administration’s plan to reduce annual mortgage insurance premiums is a welcome step in boosting our housing market, accelerating our nation’s economic recovery, and making housing more accessible for everyone. Lowering premiums will put money back into the pockets of millions of borrowers, and will enable more creditworthy families to obtain loans.

Despite recent positive economic growth, accessing credit remains difficult for many potential homebuyers. By lowering its annual premiums, the FHA will help families previously shut out of homeownership and will ultimately help save families billions of dollars on mortgage payments, boosting our country’s economy and middle class.

We applaud President Obama and the FHA for this move and are committed to continue working with the administration to make fair, affordable housing opportunities a reality for all Americans.”

Wade Henderson is the president and CEO of The Leadership Conference on Civil and Human Rights, a coalition charged by its diverse membership of more than 200 national organizations to promote and protect the rights of all persons in the United States. The Leadership Conference works toward an America as good as its ideals. For more information on The Leadership Conference and its 200-plus member organizations, visit www.civilrights.org.