The FHA Single-Family Mortgage Insurance Program: Financial Status and Related Current Issues
| Author | : | |
| Rating | : | 4.95 (549 Votes) |
| Asin | : | 1481923471 |
| Format Type | : | paperback |
| Number of Pages | : | 48 Pages |
| Publish Date | : | 2014-08-22 |
| Language | : | English |
DESCRIPTION:
FHA also traditionally plays a countercyclical role in the mortgage market. While many of these changes were made administratively by FHA, some involved congressional action. FHA has recently proposed or implemented a number of changes to its single-family mortgage insurance program that are intended to minimize risk to the MMI Fund while still allowing FHA to support the mortgage market and expand access to affordable mortgages. If the borrower does not repay the mortgage, FHA pays the lender the remaining principal amount owed. In other words, it generally insures more mortgages during periods when lenders and private mortgage insurers tighten their lending standards and reduce activity in response to market conditions, and it generally insures fewer mortgages at times when lenders and private mortgage insurers make mortgage credit more easily available. These changes have included increasing the fees that it charges to
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