Official calls housing regulators’ role in mortgage financing ‘temporary’

US Assistant Housing Secretary David Stevens on Thursday told Senate lawmakers the Federal Housing Administration’s “elevated role” in helping ensure mortgage financing remains available is “temporary.” Stevens, who also oversees FHA as its commissioner, said the housing administration has to strike a delicate balance with providing private mortgage financing to qualified families, while avoiding a complete takeover of private sector business. He said FHA must be sure not to disturb the fragile market with aggressive actions.

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