The Federal Housing Administration could face layoffs -- what that might mean for homebuyers
Source: NBC News/CNBC
March 5, 2025, 11:04 AM EST / Source: CNBC
Tens of thousands of federal workers have lost their jobs in recent weeks as the Trump administration attempts to slash government spending.
Employees at the Federal Housing Administration could be one of the next targets, according to Antonio Gaines, president of the American Federation of Government Employees National Council 222, a labor union that represents the largest number of employees at the Department of Housing and Urban Development.
It’s unclear how many and what type of workers are at risk of losing their jobs within the FHA, an agency under HUD. “It will not be near the 40% to 50% range that other program areas are experiencing, but there will be some cuts,” Gaines told CNBC.
HUD Secretary Scott Turner launched a Department of Government Agency Task Force in February to review HUD’s budget and look for ways to cut spending. Bloomberg reported a potential 40% slash to the agency’s headcount. HUD did not return CNBC’s requests for comment, but HUD officials told Bloomberg that the 40% figure is “not accurate.”
Read more: https://www.nbcnews.com/business/consumer/federal-housing-administration-face-layoffs-may-mean-homebuyers-rcna194889