The Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund’s capital ratio has increased $3.8 billion in Fiscal Year 2016 and now is valued at $27.6 billion, according to the U.S. Department of Housing and Urban Development’s annual report recently released to Congress, despite a decrease in the Home Equity Conversion Mortgage (HECM) portfolio.
Mortgage Bankers Association President and CEO David Stevens commended FHA’s leadership and weighed in on the HECM losses.
Read on to learn about the implications of the report.