The Federal Housing Finance Agency will announce a new proposal “in the next week or two” to “further reduce the cost of the home-buying experience,” Director Bill Pulte told Semafor.
The agency on Wednesday eased requirements for homeowners insurance, which Pulte said could save millions of homeowners between $30 and $50 a month.
“We are continuing to look at every part of the cost structure that goes into buying a home,” Pulte said. “Not everyone will be happy about [the forthcoming policy], but the American people will be happy.”
He said it would affect “industries that have ripped off American consumers for too long,” without elaborating.
Pulte also teased “more mortgage fraud referrals” and declined to rule out buying more mortgage bonds: “All options are on the table.” He said Fannie Mae and Freddie Mac “haven’t fully executed” their $200 billion purchase yet.