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Garrett discusses raising FHA downpayment requirement on CNBC

by: Jason Springer

Wed Dec 23, 2009 at 01:30:00 PM EST



Congressman Scott Garrett appeared on CNBC's The Call with Larry Kudlow and Melissa Francis to talk about his proposal to raise the downpayment requirement on FHA loans. Former Hud Official and mortgage industry consultant Howard Glazer took all 3 on defending the current FHA setup:

Currently, you can get FHA loans with 3.5% down.  Garrett is proposing to raise the downpayment to 5%. Glazer tried to compare the performance of FHA to that of private mortage companies. He said that raising the downpayment wouldn't lower the risk, it would just close the window on people who could get loans that the private market isn't serving. At times, it seemed like Larry Kudlow's head was going to explode and he actually said he was being discriminated against because he said he would have to put 20% down.
Jason Springer :: Garrett discusses raising FHA downpayment requirement on CNBC
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Garrett discusses raising FHA downpayment requirement on CNBC | 1 comments
Can't have the Gov competing (0.00 / 0)
with Capitalistic Corporations, its not preserving the market, Gheese.

The FHA has no place in market economics just like Medicare has no place in the market. In fact we should privatize both......

Kudlow is such a  POS.

Check out my 3 paragraph primer on Polywell Fusion.

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Garrett discusses raising FHA downpayment requirement on CNBC | 1 comments
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