January/February 2013
This Issue’s Highlight
FHA Fairy Tales
A number of fairy tales were told at the House Financial Services Committee’s February 6 hearing on the proper role of the Federal Housing Administration (FHA) in our mortgage insurance market. FHA Watch separates fact from fiction in this new recurring feature.
This Month’s Features:
- FHA Fairy Tales
Debunking two fairy tales from the Financial Services Committee’s February hearing
- Spotlight on Insolvency
FHA’s estimated GAAP net worth equals –$26.24 billion, with a capital shortfall of $46–65 billion
- Spotlight on Delinquency
Overall rate increases to 16.72 percent as 30-day delinquencies rise
- Spotlight on Best Price Execution
FHA’s pricing dominance eases as Ginnie’s MBS execution advantage over Fannie narrows
- Spotlight on Differences Between the Practices of the VA and the FHA
An overview of the veterans affairs residual income approach
- End the Nightmare at FHA
Fundamental and comprehensive reform of the FHA is urgently needed
