Record Mortgage Settlement Greatly Reduces Likelihood of FHA Bailout
An independent audit of the Federal Housing Administration’s Mutual Mortgage Insurance Fund found in November that the fund was, at 0.24%, well below its mandated capital reserve ratio of 2%. While housing officials said at the time that the Department of Housing and Urban Development’s Home Equity Conversion Mortgage Program was self sustaining, the Obama [...]...
Published By: Reverse Mortgage Daily - Wednesday, 22 February