Trump is now president, but he still sees himself as leading an insurgency

http://www.reuters.com/article/us-usa-trump-inauguration-style-analysis-idUSKBN1542XO

In doing so, he sent a clear signal to the country and the world: He plans to govern as he campaigned, refusing to align himself even with his own Republican Party and taking his message directly to the American people.

He did nothing to dispel concerns that he would bring the cult of personality he built over the election campaign into the White House, and he offered little in the way of olive branches to the tens of millions of Americans who did not vote for him in the most divisive election in modern U.S. history.

A former reality TV star, Trump offered an apocalyptic vision of reality: an America besieged by crime, immigration, terrorism and unfair trade deals.

He also did this his first hour as President:

http://www.cnbc.com/2017/01/20/us-housing-regulators-suspend-plans-to-cut-fha-premiums.html

Newly inaugurated Trump administration puts mortgage premium cuts on hold

The U.S. Department of Housing and Urban Development on Friday suspended a controversial plan that would have slashed the premium rates for certain federally backed mortgages.

The reversal by the Federal Housing Administration came less than two hours after Donald Trump was sworn in as president.

The announcement came in a letter signed by Deputy Assistant Secretary for Housing Genger Charles, which said the reduction in FHA mortgage insurance premiums that was slated to take effect on Jan. 27 would be "suspended indefinitely."

When asked for more information about HUD's decision, a spokesman referred back to the letter, which states that "more analysis and research are deemed necessary to assess future adjustments..."

The returning of the HUD fee schedule to what it was before two weeks ago was the right decision.

2seaoat wrote:The returning of the HUD fee schedule to what it was before two weeks ago was the right decision.

I am not knowledgeable enough to agree or disagree with that statement but I do agree with one TV commentator that this does not sound like anything Trump would've come up with on his own. It's nothing he's ever mentioned before nor likely would've ever cared about. Nope, this is something someone else influenced him to do immediately, for whatever reason.

RealLindaL wrote:

2seaoat wrote:The returning of the HUD fee schedule to what it was before two weeks ago was the right decision.

I am not knowledgeable enough to agree or disagree with that statement but I do agree with one TV commentator that this does not sound like anything Trump would've come up with on his own.  It's nothing he's ever mentioned before nor likely would've ever cared about.  Nope, this is something someone else influenced him to do immediately, for whatever reason.

The mortgage premium is the insurance a buyer pays for any loan over 80% of the appraised value or purchase price, whichever is less. The is called mortgage insurance, it protects the LENDER in the event the buyer defaults. In that case, the lender is paid roughly the top 20% of the loan to cover legal fees, the cost of foreclosure legal fees, the cost of sale, etc. In 2008+ there wasn't enough money to cover all those "20%'s".

That was true all across the board and why insurance companies went under. The vast majority of insurance companies simply didn't believe that many mortgages could go bad all at once. It was unheard of.... Right.

What we're doing is by cutting those insurance premiums, is exactly the same direction we went back then and what led to the collapse.

All conventional loans, above 80% have the same thing. VA, on the other hand, charges a funding fee which is payable at closing and then there are no further premiums.