no 09177: HUD Announces NEW Policy Changes HUD No. 09-177 - 09/21/09 07:32 AM
FHA ANNOUNCES CREDIT POLICY CHANGES, ADDING CHIEF RISK OFFICERPolicy Changes Will Reduce Risk As Officials Anticipate Annual Actuarial Study to Show Capital Reserve Ratio Dropping Below Congressionally-Mandated 2 percent
WASHINGTON, DC - Federal Housing Administration (FHA) Commissioner David H. Stevens today announced plans to implement a set of credit policy changes that will enhance the agency's risk management functions. Stevens also announced his intention to hire a Chief Risk Officer for the first time in the FHA's 75-year history.
Both actions come as the agency's annual independent actuarial study is being completed. The study will be sent to Congress in November … (0 comments)