Selling hope, delivering harm 

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This Issue’s Highlight
Representatives and Senators Release Two Draft FHA Reform Bills

Earlier this month, House Financial Services Committee Chairman Jeb Hensarling (R-TX), along with subcommittee chairs Scott Garrett (R-NJ), Randy Neugebauer (R-TX), and Shelley Moore Capito (R-WV), unveiled the Protecting American Taxpayers and Homeowners (PATH) Act of 2013. Title II encompasses the most significant and common-sense Federal Housing Administration (FHA) reform legislation in memory.

Also earlier this month, Senate Banking Committee Chairman Tim Johnson (D-SD) and ranking member Mike Crapo (R-ID) unveiled their FHA Solvency Act of 2013. Unfortunately, it is deeply flawed and does not address the need for fundamental reform of the FHA.

This Month’s Features:

  • Spotlight on Insolvency
    FHA’s Estimated GAAP Net Worth Equals –$26.21 Billion, with a Capital Shortfall of $46–66 Billion

 

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