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FHA Takes Steps to Bolster Capital & News From HUD
HUD NEWS
U.S. Department of Housing and Urban Development – Shaun Donovan, Secretary
Office of Public Affairs, Washington, DC 20410
 
HUD No. 13-010                                                                                             FOR RELEASE                                                                                              Wednesday
(202) 708 - 0685                                                                                             January 30, 2013
http://www.hud.gov/news/index.cfm
 
FHA TAKES ADDITIONAL STEPS TO BOLSTER CAPITAL RESERVES
Continuing effort to help strengthen FHA’s Mutual Mortgage Insurance Fund 
WASHINGTON – As part of a broad effort to strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund (MMI Fund), FHA Commissioner Carol Galante announced a series of changes to be issued this week that will allow the agency to better manage risk and further strengthen the health of the MMI Fund. 
“These are essential and appropriate measures to manage and protect FHA’s single-family insurance programs” said Galante.  “In addition to protecting the MMI Fund, these changes will encourage the return of private capital to the housing market, and make sure FHA remains a vital source of affordable and sustainable mortgage financing for future generations of American homebuyers.” 
Home Equity Conversion Mortgage Consolidation
 
As discussed in its Annual Report to Congress, FHA will consolidate its Standard Fixed-Rate Home Equity Conversion Mortgage (HECM) and Saver Fixed Rate HECM pricing options. This change will ... more

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