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 1
... private sector . Then came the 1980's . A decade of privatization schemes , impru- dent underwriting and insider favors led to billions of dollars of losses , and the dismantling of a once proud and effective agency . Congressional ...
... private sector . Then came the 1980's . A decade of privatization schemes , impru- dent underwriting and insider favors led to billions of dollars of losses , and the dismantling of a once proud and effective agency . Congressional ...
Página 9
... insurance . That's their right , private mortgage insurance . But FHA needs those borrowers to pay the premiums on relative- ly safe loans because it's still a cross subsidization program — it's not a full risk based premium system ...
... insurance . That's their right , private mortgage insurance . But FHA needs those borrowers to pay the premiums on relative- ly safe loans because it's still a cross subsidization program — it's not a full risk based premium system ...
Página 10
... private market is serving homebuyers in neighborhoods and across the country . That's what I thought the CRA battle was about , to have the option of having conventional , FHA , VA , etcetera . My reading of the Price Waterhouse studies ...
... private market is serving homebuyers in neighborhoods and across the country . That's what I thought the CRA battle was about , to have the option of having conventional , FHA , VA , etcetera . My reading of the Price Waterhouse studies ...
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... MORTGAGE INSURANCE CO . , WINSTON - SALEM , NC Mr. SIMPSON . Mr. Chairman , I am CEO of a private mortgage in- surance company , and I'm in virtually similar business to the FHA . In 1985 , our industry was broken and needed to be fixed ...
... MORTGAGE INSURANCE CO . , WINSTON - SALEM , NC Mr. SIMPSON . Mr. Chairman , I am CEO of a private mortgage in- surance company , and I'm in virtually similar business to the FHA . In 1985 , our industry was broken and needed to be fixed ...
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... private market and on the private mortgage insurers to meet that need . And there are programs , as Gale says , to help meet that need , but we don't think it's the time to start taking away vehicles to bring homes to minority borrowers ...
... private market and on the private mortgage insurers to meet that need . And there are programs , as Gale says , to help meet that need , but we don't think it's the time to start taking away vehicles to bring homes to minority borrowers ...
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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...