By Ben Lane | HousingWire
The Federal Housing Administration announced Tuesday that its flagship fund, the Mutual Mortgage Insurance Fund, grew in fiscal 2016, marking the MMI Fund’s fourth straight year of growth, but that doesn’t mean that an additional cut to the FHA’s mortgage insurance premiums is coming.
Last year, the MMI Fund reached its Congressionally mandated threshold of 2% ahead of schedule, as the FHA’s fiscal year 2014 actuarial report estimated the fund would reach the Congressional mandated 2% level during fiscal 2016.
But instead, the MMI Fund surpassed that 2% threshold last year, climbing to 2.07%, well above the 2014 level of 0.41%.
