FHA Mortgage Insurance: Applicability of Industry Requirements Is Limited, but Certain Features Could Enhance Oversight

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By Mathew J. Scire (au)
Year: 2013
Pages: 41
Binding Paperback
ISBN 978-1-4578-4973-2

Product Code: 1457849739

Description

The Federal Housing Administration (FHA) insures private lenders against losses from defaults on single-family mortgages that meet FHA criteria. FHAäó»s insured portfolio was more than $1 trillion at the end of fiscal year 2012. The mortgage insurance market also includes private mortgage insurers (PMIs) regulated by the states. Since 2009, FHAäó»s Fund (under which FHA insures almost all its single-family mortgages) has not met its statutory 2 percent capital requirement. This report examines (1) how reserving practices and capital requirements for FHAäó»s Fund compare with those for PMIs; and (2) how applicable PMI practices and requirements could enhance Fund oversight. Tables and figures. This is a print on demand report.

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