Video: Courtney Blasts Trump for Eliminating FHA Mortgage Fee Reduction

WASHINGTON, D.C. — U.S. Rep. Joe Courtney on Monday offered some harsh words on the House floor against an executive action taken by President Donald Trump on his first day in office to suspend a scheduled rate decrease on mortgage insurance for first-time home buyers through the Federal Housing Administration, or FHA.

Here are excerpts from Courtney's speech:

The Trump administration on Friday said it was canceling a reduction in the FHA's annual fee for most borrowers, something that would have dropped the annual premium for someone borrowing $200,000 by about $500 in the first year.

Bloomberg explained the impact in detail.

Courtney, a Democrat, is a Vernon resident who represents Connecticut's 2nd Congressional District.

Photo Courtesy of U.S. Rep. Joe Courtney