Federal Housing Administration's Mutual Mortgage Insurance Fund and Other FHA Issues: Hearings Before the Subcommittee on Housing and Community Development of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Second Congress, Second Session, March 19 and April 3, 1992, Volume 4 |
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A-43 database actuarial review adverse selection Affordable Housing Act Analysis FY 1990 books of business buyers capital ratio Chairman GONZALEZ changes claim and prepayment claim termination closing costs conditional claim rate CONGRESS THE LIBRARY decline default rates default risk downpayment economic value effect end of FY estimated Federal Housing Administration FHA insurance FHA loan FHA mortgage FHA program FHA reforms FHA's financial statements forecast foreclosure Fund Analysis FY Fund's FY 1990 Exhibit higher homebuyers homeowners homeownership house price appreciation impact income increase insurance-in-force interest rates Jack Kemp loan limits loan origination loan performance loan-to-value loss lower LTV categories million MMI Fund Analysis MMIF Mortgage Bankers Association Mortgage Insurance Fund Mozilo Mutual Mortgage Insurance NAHA National Affordable Housing negative equity payment percent portfolio prepayment rates Price Waterhouse MMI private mortgage insurance refinancing result scenarios Secretary KEMP subcommittee up-front premium Waterhouse MMI Fund
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Page 260 - US Department of Housing and Urban Development, 451 Seventh Street SW., Washington, DC 20410; tel.
Page 289 - BEFORE THE SUBCOMMITTEE ON HOUSING AND COMMUNITY DEVELOPMENT HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS BY RICHARD R. HARPS CHAIRMAN, REALTORS» LEGISLATIVE COMMITTEE FEBRUARY 5, 1992 INTRODUCTION Mr.
Page 296 - Secretary finds that the property with respect to which the mortgage is executed is an acceptable risk, giving consideration to the need for providing adequate housing for families of low and moderate income particularly in suburban and outlying areas or small communities...
Page 296 - With respect to a unit in any project which was converted from rental housing, no insurance may be provided under this section unless (1) the conversion occurred more than one year prior to the application for insurance, (2) the mortgagor or comortgagor was a tenant of that rental housing, (3) the conversion of the property is sponsored by a bona fide tenants organization representing a majority of the households in the project, or (4) before April 20, 1984 (A) application was made to the Secretary...
Page 136 - Risk Structures and the Distribution of Benefits within the FHA Home Mortgage Insurance Program," Journal of Money, Credit and Banking, Vol.
Page 8 - Mr. Chairman, members of the subcommittee, I thank you for the opportunity to appear before you...
Page 296 - Purposes: long-term mortgage insurance on existing, new or rehabilitated single-family or multifamily housing in older declining areas where conditions are such that certain normal eligibility requirements for mortgage insurance cannot be met.
Page 233 - ... after 1984, we estimated that these books will be unprofitable and therefore, FHA will not pay distributive shares to these books. Distributive shares are paid upon prepayment or maturity of the loan. Thus, we use the projected prepayment rates to estimate the volume of distributive shares payments. III. ANALYSIS OF THE CURRENT PORTFOLIO OF MORTGAGES In analyzing the economic value of the Fund, we first examined those loans that FHA currently has in its portfolio. The Fund's current equity less...
Page 75 - Once again, Mr. Chairman, thank you for holding this hearing today. I look forward to...
Page 145 - However, the act defined unamortized insurance-in-force as the remaining obligation on outstanding mortgages- — a definition generally understood to apply to amortized insurance-in-force.