HUD Releases Report on FHA Finances - November 13, 2009

Washington, DC – U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan and Federal Housing Administration (FHA) Commissioner David H. Stevens today briefed members of the media, industry leaders and congressional Members on the FHA’s financial outlook, in coordination with the agency’s release of its annual independent actuarial study.

The independent study shows that FHA has sustained significant losses from loans made before 2009, and the capital reserve ratio has fallen below the congressionally mandated threshold, but concludes that under most economic scenarios considered FHA’s reserves would remain above zero.

Please click here for the full press release and to access the report.