FHA now solvent

Mortgage News Daily

Despite dire predictions from many quarters the Federal Housing Administration’s (FHA’s) Mutual Mortgage Insurance Fund (MMIF) has returned to solvency. And it did it a full three years ahead of the best estimates back in 2012. The Department of Housing and Urban Development (HUD) said on Monday that the Fund has gained nearly $6 billion in value over the last year and now stands at $4.8 billion with a capital ratio of .41 percent. One year ago that ratio was a negative .11 percent.

HUD made the financial announcement as it released its annual report to Congress. An independent actuarial report shows that the fund has gone from a negative value to a growth of $21 billion within the last two years.

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November 18, 2014

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