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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... increased cash up front at closing . I understand the need to shore up the Mutual Mortgage Insurance Fund . I do not under- stand attempts to require additional burdens of 57 percent closing costs , financial limitation on top of the ...
... increased cash up front at closing . I understand the need to shore up the Mutual Mortgage Insurance Fund . I do not under- stand attempts to require additional burdens of 57 percent closing costs , financial limitation on top of the ...
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... increasing homeowner's equity and reducing the default rate . The MIP Rule , which pro- vides for a structure of ... increased cash requirements will mean that 20,000 borrowers will delay closing a home purchase each year . These ...
... increasing homeowner's equity and reducing the default rate . The MIP Rule , which pro- vides for a structure of ... increased cash requirements will mean that 20,000 borrowers will delay closing a home purchase each year . These ...
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... increased over the years . They have not declined . Any money that I would have paid into an FHA loan will be there . I mean , the property . I don't think there is a single area of my community where the property values have declined ...
... increased over the years . They have not declined . Any money that I would have paid into an FHA loan will be there . I mean , the property . I don't think there is a single area of my community where the property values have declined ...
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... almost half of FHAS loans had 5 percent down or less . FHA has been steadily drifting into a business which is a higher risk business , and that has increased default rates dramatically over time . So for both of those reasons , 24.
... almost half of FHAS loans had 5 percent down or less . FHA has been steadily drifting into a business which is a higher risk business , and that has increased default rates dramatically over time . So for both of those reasons , 24.
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... increasing the equity in the home . The simple solution is to put the money in as down- payment and as payment of closing costs , and that is what our low LTV borrowers , in effect , already are doing . Mr. VENTO . In other words , you ...
... increasing the equity in the home . The simple solution is to put the money in as down- payment and as payment of closing costs , and that is what our low LTV borrowers , in effect , already are doing . Mr. VENTO . In other words , you ...
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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.