Financial Condition of the FHA's Mutual Mortgage Insurance Fund: Hearing Before the Subcommittee on Housing and Urban Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Second Congress, Second Session, on the Availability of Affordable Housing for Low- and Moderate-income Home Buyers, Long-term Health of the Single-family Insurance Fund, Collapse of FHA's Multifamily Operations ... April 3, 1992, Volumen4U.S. Government Printing Office, 1992 - 260 páginas |
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Página 3
... capital had fallen dangerously , from over 5 percent of insurance in force in 1979 , to 1 percent in 1989. That level of cap- ital was well below the minimum of 1.25 percent identified by Price Waterhouse as essential to protect the ...
... capital had fallen dangerously , from over 5 percent of insurance in force in 1979 , to 1 percent in 1989. That level of cap- ital was well below the minimum of 1.25 percent identified by Price Waterhouse as essential to protect the ...
Página 4
... capital of $ 871 million , just slightly less than it had in 1990. This means that the Fund has assets which exceed its short term liabilities and can pay its bills as they come due . In 1992 and later years , capital and net worth will ...
... capital of $ 871 million , just slightly less than it had in 1990. This means that the Fund has assets which exceed its short term liabilities and can pay its bills as they come due . In 1992 and later years , capital and net worth will ...
Página 6
... capital to the fund . Howev- er , the legislative process is fluid and it is important to evaluate the reforms imple- mented in the Act . We must be able to strike a balance between maintaining solven- cy and continuing to promote the ...
... capital to the fund . Howev- er , the legislative process is fluid and it is important to evaluate the reforms imple- mented in the Act . We must be able to strike a balance between maintaining solven- cy and continuing to promote the ...
Página 13
... capital ratio of 5.3 percent , starting in 1980 . Now , today , it's down , based on Price Waterhouse's economic as- sessment of the fund , we're now at .88 negative . That is a substantial decline and erosion of the capital base of FHA ...
... capital ratio of 5.3 percent , starting in 1980 . Now , today , it's down , based on Price Waterhouse's economic as- sessment of the fund , we're now at .88 negative . That is a substantial decline and erosion of the capital base of FHA ...
Página 14
... of its single family portfolio ? What measures can and should be taken to address the diversifi- cation issue ? What impact would those changes have on the Fund's capital ratio ? What's the level of risk that the Government should expect ...
... of its single family portfolio ? What measures can and should be taken to address the diversifi- cation issue ? What impact would those changes have on the Fund's capital ratio ? What's the level of risk that the Government should expect ...
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Términos y frases comunes
Administration Affordable Housing Act affordable multifamily housing Alan Cranston areas bond insurers borrowers buyers capital Chairman changes closing costs coinsurance Congress credit enhancement default delegated processing downpayment Fannie Mae federal government Federal Housing Federal Housing Administration FHA insurance FHA loan limits FHA mortgage FHA program FHA's Freddie Mac Ginnie Mae HFAs homebuyers homeownership households Housing and Urban housing finance agencies Housing Tax Credit HUD's implemented increase industry Insurance Fund investors issues lenders losses low-income Mae and Freddie million MMI Fund MMIF mortgage insurance program mortgage limits multifamily finance multifamily housing finance multifamily lending multifamily loans multifamily mortgage NAHA National Affordable Housing options participate percent portfolio premium Price Waterhouse private mortgage insurance problems processors production projects ratio recommendations reinsurance rental housing risk role secondary market securitize Senator CRANSTON Subcommittee on Housing subordinate financing subsidies Task Force underwriting standards Urban Affairs
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Página 103 - ... loan sources as compared to government-backed sources. Likewise, 58 percent of moderate-income applicants (ie having between 80 percent and 100 percent of MSA median income) applied for conventional loans as compared to government-backed loans. Second, even though we would expect government-backed mortgages to appeal to individuals buying homes in low- and moderate-income areas (a census track where the median income is less than 80 percent of the median income for the entire MSA), we find instead...
Página 236 - We want to thank you, Mr. Chairman, and the other members of the subcommittee, for your efforts in bringing about this historic change.
Página 70 - BEFORE THE SUBCOMMITTEE ON HOUSING AND URBAN AFFAIRS SENATE COMMITTEE ON BANKING. HOUSING AND URBAN AFFAIRS BY RICK ADAMS VICE CHAIRMAN.
Página 135 - Commission has worked diligently over many months to examine the effects of rules, regulations, and red tape at all levels of government on the cost of housing in our Nation. The Commission's disturbing conclusion is that exclusionary, discriminatory, and unnecessary regulations constitute formidable barriers to affordable housing, raising costs by 20 to 35 percent in some communities.
Página 78 - Secretary finds that the property with respect to which the mortgage is executed is an acceptable risk, giving consideration to the need for providing adequate housing for families of low and moderate income particularly in suburban and outlying areas or small communities...
Página 236 - Some reassurance on the need for such a program is given in the testimony earlier in 1968 before the Subcommittee on Housing and Urban Affairs of the Senate Committee on Banking and Currency by Secretary Robert C.
Página 45 - Before the Subcommittee on Housing and Urban Affairs, Senate Committee on Banking, Housing, and Urban Affairs, Mar.
Página 125 - Fannie Mae is a privately-owned corporation, chartered by the federal government to fulfill a public mission increasing the supply of capital to finance residential mortgages. We do this by purchasing loans from lenders in the secondary mortgage market, and by issuing securities that are backed by single family and multifamily mortgages. As a trade-off for being limited to the business of single family and multifamily residential finance, Fannie Mae maintains certain ties to the federal government...
Página 236 - ... advancing the interests of low and moderate income people through the financing, development, and preservation of affordable housing. NCSHA is the only representative of state or local government exclusively devoted to the full range of affordable housing issues. NCSHA's members are state housing agencies (HFAs) with statewide authority.
Página 73 - ... are steering consumers to the conventional, private mortgage insurance market if the potential homebuyer has any savings, rather than seeking an FHA insurance commitment as they might have in the past. It is quicker, less labor intensive, and just generally easier to go conventional. As we projected last year, FHA is losing low-risk borrowers. Contrary to assumptions in the original Price Waterhouse study of June, 1990, these borrowers are not selecting the FHA program. The net result is that...