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HUD Plans to Reduce Fees for Home Loans.

The Sacramento Bee (Sacramento, CA)

| October 31, 2000 | COPYRIGHT 2007 The Sacramento Bee. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Oct. 31--SAN FRANCISCO -- The nation's chief housing agency announced plans Monday to make home ownership available to more Americans by reducing home-buying costs.

Andrew Cuomo, secretary of housing and urban development, said the plan will help cut costs by $750 for the buyer of a home with a $100,000 mortgage backed by HUD's FHA loan program.

Similar amounts could be realized by long-term home owners in the form of mortgage insurance premium cancellations or refunds.

HUD's was just one of the home-buyer plans announced by lenders Monday at the 87th annual Mortgage Bankers Association convention in the Moscone Center.

On a separate front, the Rancho Cucamonga-based…

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