HUD: FHA Releases 2019 Annual Report to Congress
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- MMI Fund Capital Ratio continues to exceed the statutory minimum - strongest since 2007
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The
"The financial health of FHA's single-family insurance fund is as sound as it has been in over a decade," said
Commissioner Montgomery added, "This report is welcome news. The improvements we've begun to put in place in the last two years to stem the losses of the reverse mortgage portfolio, aided by favorable economic conditions, are contributing to some improvements in our reverse mortgage portfolio. Looking forward, we must focus on seeking the right balance between facilitating access to mortgage credit and managing risk. Our mission is to make certain FHA remains a stable and reliable resource to provide housing finance support for first-time homebuyers, and other underserved borrowers."
KEY HIGHLIGHTS FROM FHA'S 2019 ANNUAL REPORT
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* As detailed in today's FY 2019 annual report to
* The performance of the forward book of business posted a stand-alone capital ratio of 5.44 percent.
The HECM portfolio continues to show a negative stand-alone capital ratio, but improved substantially from a negative (-) 18.83 percent capital ratio in FY 2018 to negative (-) 9.22 percent in FY 2019. The HECM portfolio also showed an improvement in
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