FHA Releases 2019 Annual Report to Congress
The Federal Housing Administration (FHA) has released its 2019 Annual Report to Congress on the economic condition of the agency's Mutual Mortgage Insurance Fund (MMI Fund). FHA reports that at the end of Fiscal Year (FY) 2019, The FHA MMI Fund Capital Ratio for FY 2019 was 4.84 percent, the highest level since FY 2007.
The MMI Fund supports FHA's single-family mortgage insurance programs, including all forward mortgage purchase and refinance transactions, as well as mortgages insured under the Home Equity Conversion Mortgage (HECM), or reverse mortgage program, since FY 2009. The HECM portfolio continues to show a negative stand-alone capital ratio, but improved substantially from a negative (-) 18.83 percent capital ratio in FY 2018 to negative (-) 9.22 percent in FY 2019. The HECM portfolio also showed an improvement in MMI Capital, increasing $7.7 billion.
To view the report, click here.