The Federal Housing Administration had enough money in its reserves for the first time since 2008, the U.S. Department of Housing and Urban Development revealed Monday.
HUD delivered the news in its annual report to Congress on the financial condition of the FHA's Mutual Mortgage Insurance Fund. The department reported an independent analysis found the fund's capital ratio stood at 2.07%. The FHA is legislatively required to maintain a capital ratio of at least 2.00%.
The ratio measured how much in reserves, as a proportion of its loan guarantees, the FHA would have on hand after covering expected losses.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
