TY  - JOUR
AU  - Hendershott,Patric H.
AU  - Waddell,James A.
TI  - The Changing Fortunes of FHA's Mutual Mortgage Insurance Fund and the   Legislative Response
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3592
PY  - 1991
Y2  - January 1991
UR  - http://www.nber.org/papers/w3592
L1  - http://www.nber.org/papers/w3592.pdf
N1  - Author contact info:
Patric H. Hendershott
Fisher Hall
Ohio State University
2100 Neil Avenue
Columbus, OH 43210
Tel: 218/963-1393
Fax: 218/963-9484
E-Mail: hendershott.2@osu.edu
M2  - featured in NBER digest on 1991-06-01
AB  - The 1980s was a bad decade for FHA's Mutual Mortgage Insurance (MMI) program, the mainstay of FHA's single family mortgage insurance. While the MMI Fund is required by statute to be actuarially sound, the Fund lost close to $6 billion dollars, and its economic value declined from 5.3 percent of insurance-in-force to under one percent. This study documents the decline in the soundness of the MMI Fund in the 1980s and describes the legislation enacted in October 1990 to shore up the Fund.
ER  -