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Andrew Harnik / AP

The issue:

One of President Trump's first executive actions in the Oval Office was to order HUD to suspend its planned 0.25% cut in the insurance fee it charges to participants in the Federal Housing Administration's mortgage program.

The facts:

FHA loans are a popular means for first-time homebuyers to finance their purchases. They allow buyers to put as little as 3.5% down, plus an upfront insurance premium of 1.75%. Thereafter the majority of borrowers are charged an annual fee of 0.85% of their loan, which helps the FHA compensate lenders when loans go bad.

The Obama administration's lowering of the fee would have saved the median homebuyer roughly $500 per year, though that can go higher or lower depending on the value of the home. Back in 2013, the FHA had to be bailed out to the tune of $1.7 billion when it insurance fund was exhausted, for the first time in its 80 year history. That's why fiscal conservatives are wary of lowering the insurance premium.

Why it matters:

$500 per year isn't a massive amount of money, but on the margin can be the deciding factor in whether a borrower can afford a home. It is a hint that the Trump administration will place fiscal responsibility over populist programs to support the working class. It's also a move that will disproportionately hit blue-state borrowers, as places like New York and California are home to expensive real estate markets.

Go deeper

NRA files for bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for voluntary bankruptcy as part of a restructuring plan.

Driving the news: The gun rights group said it would reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment." Last year, New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

53 mins ago - Politics & Policy

Biden: "We will manage the hell out of" vaccine distribution

Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.

A new Washington

Photo: Stefani Reynolds/Getty Image

D.C. Mayor Muriel Bowser said Friday that the city should expect a "new normal" for security — even after President-elect Biden's inauguration.

The state of play: Inaugurations are usually a point of celebration in D.C., but over 20,000 troops are now patrolling Washington streets in an unprecedented preparation for Biden's swearing-in on Jan. 20.