This Issue’s Highlight
FHA Fairy Tales
A number of fairy tales were told by FHA Commissioner Carol Galante in remarks on March 7 at J.P. Morgan’s Securitized Products Research Conference. FHA Watch separates fact from fiction in this new recurring feature.
This Month’s Features:
- FHA Fairy Tales
Debunking Two Fairy Tales from a Speech by FHA Commissioner Carol Galante on March 7
- FHA’s Family vs. Loan Claim Rate
Since 1975, FHA’s Average Claim Rate on a Borrower Basis Is 1 in 8 Families (12.5 Percent)
- Spotlight on Insolvency
FHA’s Estimated GAAP Net Worth Equals –$27.31 Billion, with a Capital Shortfall of $47–66 Billion
- Spotlight on Delinquency
Overall Rate Steady at 16.7 Percent with Rise in 60-Day Delinquencies
- Spotlight on Best Price Execution
FHA, VA, and USDA’s Pricing Dominance Little Changed
- Spotlight on Differences Between the Practices of the VA and the FHA
- End the Nightmare at FHA
Fundamental and Comprehensive Reform of the FHA Is Urgently Needed
