News Release

Commissioner Montgomery Comments on FHA
Modernization Efforts on Capitol Hill

I want to thank Senator Schumer for introducing legislation that would help modernize the Federal Housing Administration by providing more families with a safe, fair and affordable alternative to high-cost, high-risk loans. HUD supports the Senator's call to increase FHA loan limits, which is modeled after the Administration's proposal. Senator Schumer's bill is part of a growing bipartisan effort to modernize the FHA, support the agency's efforts to reach more prospective borrowers and help millions of more families achieve the American dream of homeownership.

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HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov. For more information about FHA products, please visit www.fha.gov.