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The Federal Housing Finance Agency (FHA) had to be bailed out by the U.S. Treasury during the financial crisis after its Mutual Mortgage Insurance Fund was nearly depleted. Congress has long mandated a 2.0 percent ratio in its fund, but the agency's 2011 annual report reported the fund was down to 0.24 percent of its balance of guaranteed loans. In its annual report this November FHA reported the FY2019 capital ratio of the fund was 4.85 percent. This is a notable recovery , but even more so when compared to the ratio in FY2018, 2.76 percent. Both the forward portfolio with insurance on $1.2 trillion of mortgages and the reverse mortgage portfolio with insurance on $64 billion showed large improvements Urban Institute (UI) analysts Laurie Goodman and Edward Goldman took a deeper look at what
Housing News
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The Federal Housing Finance Agency (FHA) had to be bailed out by the U.S. Treasury during the financial crisis after its Mutual Mortgage Insurance Fund was nearly depleted. Congress has long mandated a 2.0 percent ratio in its fund, but the agency's ... (read more)
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Rob Chrisman
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There’s an old saying among economists regarding predicting the future. “You can put a date on it, and you can put a number on it, but you can’t do both.” Sure there will be a recession, eventually. Just like there will be mor... (read more)
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MBS Commentary
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Yesterday saw bonds jump up to the highest yields in more than 2 weeks. Culprits were diverse, including stronger overseas econ data and new trading positions being added for December's first trading day. Domestic econ data helped stem th... (read more)
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Housing News
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Home prices increased on an annual basis by 3.5 percent in October according to CoreLogic's Home Price Index (HPI). The index rose 0.2 percent from the previous month. The rate of increase in home prices appears to have stabilized for the moment. Aft... (read more)
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Housing News
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The nation's total spending on construction projects was at a seasonally adjusted annual rate of $1.291 trillion in October, 1.1 percent higher than a year earlier, but down 0.8 percent from the seasonally adjusted total in September of $1.301 trilli... (read more)
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Mortgage Rate Watch
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Mortgage rates were up to the highest levels in 2 weeks yesterday, but that was then and this is now. In the wee hours of the morning, trade-related headlines rocked financial markets. This sent stock prices and bond yields (aka "rates") lower at a r... (read more)
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