Report shows an FHA in serious trouble
The report is in. It’s not good.
The “Annual Report to Congress Regarding the Financial Status of the FHA Mutual Mortgage Insurance Fund Fiscal Year 2012” shows the FHA’s reserve fund has fallen to -1.44 percent—far below the 2 percent cushion mandated by Congress, and may open the door to the first infusion of government cash in the insurer’s 78-year history.
