United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2001-03-20 monographic deposited born digital 18 p. GA 1.13:GAO-01-527T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-527T P0b002ee18038e472 f:d01527t DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-01-527T machine generated eng fdlp REPORT GAOREPORTS-GAO-01-527T GAO-01-527T Funds management Mortgage loans Mortgage programs Risk management Economic analysis Econometric modeling Mortgage protection insurance Mutual Mortgage Insurance Fund Testimony Through the Mutual Mortgage Insurance Fund, the Federal Housing Administration operates a single-family insurance program that helps millions of Americans buy homes. Last year, the Fund's economic value appeared to have reached its highest level in the last 20 years--prompting proposals to spend some of the Fund's current resources or reduce net cash flows into the Fund. This testimony discusses (1) the financial health of the Fund under different economic scenarios and (2) the impact of proposals to reduce the size of the Fund. GAO determined that under several scenarios it tested, the Fund would be able to withstand moderately severe economic downturns. However, in three more scenarios GAO tested, the Fund would not be able to maintain its actuarial soundness. Because of the professional judgment and uncertainty involved in these analyses, GAO urges caution in using these estimates to determine that the Fund would withstand any particular economic scenario under all circumstances. Congress and the Secretary of Housing and Urban Development have taken and could take a number of actions to influence the economic value of the Fund. However, those actions will affect the federal budget and, if not accompanied by spending reduction efforts in other areas of the government, the federal budget surplus will decline. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-527T/html/GAOREPORTS-GAO-01-527T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-527T/pdf/GAOREPORTS-GAO-01-527T.pdf GAO-01-527T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-527T Testimony GAO-01-527T; Mortgage Financing: Actuarial Soundness of the Federal; Funds management Mortgage loans Mortgage programs Risk management Economic analysis Econometric modeling Mortgage protection insurance Mutual Mortgage Insurance Fund