SOURCE: Mortgage News Feed
The Federal Housing Administration (FHA) is close to replenishing its troubled mortgage insurance fund to minimum required levels, Bloomberg reports, citing research by Moody’s Analytics. The FHA is required to keep enough funds on hand to pay for all future costs of defaulted loans, plus a 2% cushion. Though the FHA’s reserves have been below mandated levels since 2009, its fund “will have close to the 2% required minimum this fiscal year,”
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