Author: Publisher: DIANE Publishing
ISBN: 9781422397299
Category :
Languages : en
Pages : 22
Book Description
Federal Housing Administration: Proposed Legislative Changes Would Affect Borrower Benefits and Risks to the Insurance Funds
Author: Publisher: DIANE Publishing
ISBN: 9781422397299
Category :
Languages : en
Pages : 22
Book Description
Federal Housing Administration
Author: United States Government Accountability OfficePublisher: Createspace Independent Publishing Platform
ISBN: 9781976401497
Category :
Languages : en
Pages : 24
Book Description
Fewer borrowers are using the Federal Housing Administration's (FHA) single-family and manufactured housing insurance programs. To help counter this trend, proposed changes to the single-family program would raise loan limits, allow risk-based pricing of premiums, and reduce down payments. Changes such as higher loan limits also were proposed for the manufactured housing program. To assist Congress in considering the impact of these changes, this testimony provides information from recently issued GAO reports and preliminary views from ongoing work. Specifically, GAO discusses (1) trends in FHA's share of the mortgage market, (2) likely impacts of proposed changes to the single-family program, (3) practices important to implementing the changes to the single-family program, if passed, and (4) preliminary observations from our work on the manufactured housing program. To conduct this work, GAO analyzed agency, Home Mortgage Disclosure Act, and Census data and interviewed agency and lending industry officials and other stakeholders.
Federal Housing Administration
Author: Homeownership
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Government insurance
Languages : en
Pages : 84
Book Description
Review of Federal Housing Administration: Update of FHA mortgage insurance funds deficits
Author: United States. Congress. House. Committee on Government Operations. Legal and Monetary Affairs SubcommitteePublisher:
ISBN:
Category : Mortgage guarantee insurance
Languages : en
Pages : 88
Book Description
Review of Federal Housing Administration: The financial status of FHA mortgage insurance funds
Author: United States. Congress. House. Committee on Government Operations. Legal and Monetary Affairs SubcommitteePublisher:
ISBN:
Category : Mortgage guarantee insurance
Languages : en
Pages : 124
Book Description
Federal Housing Administration
Author: United States Government Accountability OfficePublisher:
ISBN: 9781469971506
Category : Education
Languages : en
Pages : 24
Book Description
For the third consecutive year, FHA reported that the Fund's capital ratio (the ratio of economic value to insurance-in-force) has not met the 2 percent statutory minimum (see below). FHA cites declines in the Fund's economic value due to higher-than-expected defaults, claims, and losses. At the same time, the other component of the ratio, FHA's insurance-in-force, has grown rapidly. The Fund's condition also worsened from a budgetary perspective, with balances in the Fund's capital reserve account reaching new lows. If the account were depleted, FHA would require more funds to help cover costs on insurance issued to date. FHA enhanced methods for assessing the Fund's financial condition but has not yet addressed GAO's 2010 recommendation for improving the reliability of its estimates. It relies on a single economic forecast, which does not fully account for variability in future house prices and interest rates. An approach that would simulate hundreds of economic paths for house prices and interest rates would improve the reliability of its capital ratio estimates. FHA has taken or plans a number of steps to better assess and manage risk. It created a risk office in 2010 and hired a consultant to recommend best practices. FHA plans to charter committees to evaluate risks at enterprise-wide and programmatic levels. It began a quality control initiative in the Office of Single Family Housing, in which program and field offices assess and report on risks. FHA also enhanced lender and appraiser reviews. While FHA's consultant recommended integrating risk assessments, the quality control and risk office activities currently remain separate efforts. Also, the Office of Single Family Housing has not annually updated assessments since 2009 as required. Without integrated and updated risk assessments that identify emerging risks, FHA lacks assurance it has identified all its risks. Further, human capital presents challenges. FHA has not created a systematic workforce plan to identify critical skills and skill gaps. Such a plan will be needed because high percentages of staff are eligible to retire soon. Without a workforce planning process that includes succession planning, FHA's ability to systematically identify workforce needs is limited.
Modernization of Federal Housing Administration Programs
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban AffairsPublisher:
ISBN:
Category : Law
Languages : en
Pages : 132
Book Description
Mortgagee Review Board
Author: United States. Department of Housing and Urban DevelopmentPublisher:
ISBN:
Category : Mortgage loans
Languages : en
Pages : 36
Book Description
Underwriting Manual
Author: United States. Federal Housing AdministrationPublisher:
ISBN:
Category : Housing
Languages : en
Pages : 264
Book Description