The Trump administration quickly backed down Saturday from a move that would add $500 a year to mortgage insurance premiums paid on government-backed mortgages after its action ignited a firestorm of criticism.
President Obama ordered a premium cut to offset rising interest rates before leaving office, which then got caught up in a blanket order to executive agencies by Trump’s chief of staff, Reince Preibus, “to freeze new and pending regulations from the previous administration.”
This apparently was done without any review or evaluation of those regulations; Trump’s people seem to be automatically against anything Obama supported, which is consistent with how Republicans treated him throughout his presidency. Read story here.