DOGE Comes for Affordable Housing Mortgage Insurance
The Federal Housing Administration generates billions for the federal government each year. It’s facing deep cuts under Trump.
The federal mortgage insurance program for affordable homes is facing deep cuts under Trump.
Photographer: Joe Sohm/Visions of America/Universal Images Group EditorialDeep staffing cuts at the US Department of Housing and Urban Development could derail a federal agency that issues mortgage insurance for hundreds of thousands of homebuyers and generates billions of dollars for the federal government each year.
The administration has recommended shedding more than 40% of the staff of HUD’s Office of Housing, whose largest agency is the Federal Housing Administration, sources told Bloomberg. The FHA provides mortgage insurance for single-family homes as well as apartment buildings, hospitals, nursing homes and other properties. In FY 2024 alone, the FHA insured more than 498,000 first-time homebuyers, many of whom would not be able to afford their mortgages otherwise.