Federal Housing Administration's Mutual Mortgage Insurance Fund: Hearing Before the Subcommittee on Housing and Community Development of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Second Congress, First Session, May 8, 1991, Volume 4U.S. Government Printing Office, 1991 - 91 pages |
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Page 8
... Claims incurred against the Fund will in some cases not be paid for up to a year after delinquency , further depleting the MMI Fund and impairing the Fund's position . Proper accounting and analysis required by GAAP leads us to the more ...
... Claims incurred against the Fund will in some cases not be paid for up to a year after delinquency , further depleting the MMI Fund and impairing the Fund's position . Proper accounting and analysis required by GAAP leads us to the more ...
Page 9
... claims payments . Through its analysis of claims payments , Price Waterhouse found that homeowners with little home equity were much more likely to default on their mortgages . This is consistent with every serious analysis of mortgage ...
... claims payments . Through its analysis of claims payments , Price Waterhouse found that homeowners with little home equity were much more likely to default on their mortgages . This is consistent with every serious analysis of mortgage ...
Page 16
... claims . The net effect of that in the Price Waterhouse calculations in the actuarial study gives us 2.5 billion as the net worth against the $ 251 billion , but the GAAP accounting does not allow those two , the unearned income or the ...
... claims . The net effect of that in the Price Waterhouse calculations in the actuarial study gives us 2.5 billion as the net worth against the $ 251 billion , but the GAAP accounting does not allow those two , the unearned income or the ...
Page 19
... claim rate on FHA loans below 11 percent . In order to meet those targets , the Price Waterhouse analysis told us that we would be able to allow financing of up to 57 percent of closing costs . If we went above that on the closing costs ...
... claim rate on FHA loans below 11 percent . In order to meet those targets , the Price Waterhouse analysis told us that we would be able to allow financing of up to 57 percent of closing costs . If we went above that on the closing costs ...
Page 21
... claims are high on loans with a high initial loan - to - value , and our claims are low on a low initial loan - to - value basis , and with the information we have on FHA , Price Waterhouse was able to construct a number of sets of risk ...
... claims are high on loans with a high initial loan - to - value , and our claims are low on a low initial loan - to - value basis , and with the information we have on FHA , Price Waterhouse was able to construct a number of sets of risk ...
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Expressions et termes fréquents
1990 FHA reform 57 percent limit actuarial soundness Affordable Housing Act annual premium BAKER basis BEN ERDREICH billion books of business buyers capital targets CARROLL HUBBARD Chairman GONZALEZ CLIFF STEARNS closing costs conference CONGRES LIBRARY CONGRESS LIBRARY CONGRESS THE LIBRARY Congressman CRAIG THOMAS Cranston-Gonzalez default rate Department DEPUTY SECRETARY DELLIBOVI DOUG BEREUTER downpayment ESTEBAN EDWARD TORRES FHA borrowers FHA Fund FHA loans FHA program FHA reform provisions fiscal Fund's GILLMOR going hearing HILL home purchase homebuyer homeowner homeownership HUD's implementation lender LIBRARY LIBRARY LIBRARY OF CONGRES LIBRARY OF CONGRESS MARGE ROUKEMA MARY ROSE OAKAR MMI Fund Mortgage Insurance Fund mortgage insurance premium Mortgagee Letter Mutual Mortgage Insurance National Affordable Housing overall paid Price Waterhouse model proposed regulations QUESTION FOR DEPUTY risk-based premium ROUKEMA Secretary Kemp seller streamlined refinance streamlined refinancing subcommittee testimony Thank upfront VENTO WEICHER WYLIE
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Page 1 - COMMITTEE ON BANKING, FINANCE, AND URBAN AFFAIRS, Washington, DC. The subcommittee met, pursuant to call, at 2 pm, in room 2128, Rayburn House Office Building, Hon.
Page 18 - I think that what is good for the goose is good for the gander...
Page 19 - This group includes the Chairman of the Federal Reserve Board, the Secretary of the Treasury, the Director of the Bureau of the Budget, and the Chairman of the Council of Economic Advisers.
Page 46 - Thank you, again, for holding this hearing and I look forward to the testimony.
Page 49 - I would first like to thank you, Mr. Chairman, and the other members of this committee, for giving me this opportunity to appear before you.
Page 38 - Mr. OXLEY. Thank you, and thank the gentleman for his incisive questions. He does raise some excellent points. The gentleman from Massachusetts. Mr. MARKEY. Thank you, Mr. Chairman. I want to thank you for holding this hearing today. I think it is very important. As I previously indicated, Glass-Steagall reform is truly a Sisyphean endeavor in which the prospect for successful enactment of a bill into law remains somewhat remote, given the competing and conflicting interests and objectives involved....
Page 7 - I also want to thank you, Mr. Chairman, and the other Members of this Subcommittee for the bipartisan support you have given OJP in working toward this mission.
Page 74 - OF THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT) CONSOLIDATED STATEMENT OF FINANCIAL POSITION SEPTEMBER 30.
Page 77 - FHA's large number of claims during tha 1980s. This finding is consistent with every serious study of mortgage defaults. The 57 percent limit on closing costs increases homeowner equity. Without the 57 percent limit, the National Affordable Housing Act's loan-to-value caps alone would result in additional defaults on each year's business, which would jeopardize the achievement of the statutory capital targets.
Page 77 - National Affordable Housing Act. In a letter dated March 7, 1991 to Chairman Gonzalez, Secretary Kemp made this point clear. All the conference discussions concerning FHA were based upon the Price Waterhouse analysis of the Fund.