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HE107 HE Application for Removal of Academic Andor Financial    Cdu Edu  Form

HE107 HE Application for Removal of Academic Andor Financial Cdu Edu Form

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Mr shirek Mr chairman ranking member Shelby members of the committee thank you for the opportunity to be here today to discuss fha's mortgage insurance program since 1934 FHA has been an important player in the mortgage Market especially for first-time homebuyers FHA ensures these loans under its Mutual mortgage insurance fund almost one year ago HUD released the results of the latest independent Actuarial review showing that the capital ratio used to measure the financial soundness of the fund had declined to 0.53 percent well below the statutory minimum of 2 percent at the request of this committee we have been evaluating the program and issued our first report yesterday overall our work pointed to further actions needed to better evaluate the fund's financial condition and guidance for rebuilding the capital ratio let me start by describing the reasons for the capital ratio's steep decline since its peak in 2006. put simply the capital ratio declined because

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