The House of Representatives quickly passed a slimmed-down FHA reform bill Friday that appears to be an attempt to make it easier for the Senate to pass legislation before the August recess.

The bill (H.R. 5981) gives FHA more flexibility to adjust its mortgage insurance premium structure and help rebuild the insurance fund's capital reserves. Allowing the agency to raise its annual premiums would increase FHA's revenues by $300 million a month, according to Department of Housing and Urban Development officials.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.