The Nation - News from March 8, 1987
- Share via
The Reagan Administration, embroiled in a fight with Congress over a popular housing program, has backed down and announced it was rescinding a proposed fee increase for the Government National Mortgage Assn., popularly known as Ginnie Mae. Critics said the mortgage guarantee fee hike to 0.1% from 0.06% would have added $600 to the total cost of buying a home for people in the Federal Housing Administration and Veterans Administration mortgage programs. The House last week passed a bill seeking to block the fee increase.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
