United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Resources, Community, and Economic Development Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1994-06-30 monographic deposited born digital GA 1.13:T-RCED-94-255 https://www.govinfo.gov/app/details/GAOREPORTS-T-RCED-94-255 P0b002ee180375c59 f:trc94255 DGPO 2010-08-12 2011-03-23 GAOREPORTS-T-RCED-94-255 machine generated eng fdlp REPORT GAOREPORTS-T-RCED-94-255 T-RCED-94-255 Mortgage programs Mortgage protection insurance Federal aid for housing Financial management Financial analysis Budgetary reserves Projections Funds management Homeowners insurance Internal controls Mutual Mortgage Insurance Fund HUD Single-Family Mortgage Insurance Program Testimony RCED The Federal Housing Administration's (FHA) Mutual Mortgage Insurance Fund made significant progress during fiscal year 1993 toward achieving the capital reserve needed for actuarial soundness under the law. Clearly, legislative and other program changes have helped restore the Fund's financial health and reverse the trend of the late 1980s and early 1990s toward insolvency. Fiscal year 1993 was, however, an unusually good year for FHA because actual economic conditions and forecasts of future economic conditions were favorable. Nevertheless, forecasting economic net worth and resulting capital ratios to determine whether FHA will have the funds needed to cover its losses over the life of 30-year loans it has insured is uncertain. Loan performance, and therefore economic net worth and capital ratios, will depend on several economic and other factors, such as the rate of appreciation in house prices and premiums charged FHA borrowers. Loan performance will also be affected by the demand for FHA-insured loans, which partly depends on alternatives available from private mortgage insurers. The desire to assist home buyers must be carefully weighed against the government's potential financial risk and expectations for the housing market's future performance. https://www.govinfo.gov/content/pkg/GAOREPORTS-T-RCED-94-255/html/GAOREPORTS-T-RCED-94-255.htm GAO/T-RCED-94-255 https://www.govinfo.gov/app/details/GAOREPORTS-T-RCED-94-255 Testimony GAO/T-RCED-94-255; Mortgage Financing: Financial Health of FHA's Home Mortgage Insurance Program Has Improved; Mortgage programs Mortgage protection insurance Federal aid for housing Financial management Financial analysis Budgetary reserves Projections Funds management Homeowners insurance Internal controls Mutual Mortgage Insurance Fund HUD Single-Family Mortgage Insurance Program