Despite the lowest average credit scores since the housing market crash, the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance (MMI) Fund is performing well above its congressionally required 2 percent threshold.
The MMI Fund’s capital ratio grew by more than $8 billion over last year and now stands at 2.76 percent, according to the U.S. Department of Housing and Urban Development’s (HUD) annual report to Congress. That’s the highest level since 2008.
Read on for more highlights from the report.
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