Download or read book Modeling the Budgetary Cost of FHA s Single Family Mortgage Insurance written by Congressional Budget Congressional Budget Office and published by CreateSpace. This book was released on 2015-01-08 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents the simulation model that the Congressional Budget Office (CBO) uses to project the budgetary costs of the Federal Housing Administration's (FHA's) single-family mortgage insurance program. CBO simulates defaults, recoveries, and prepayments on cohorts of mortgages insured by FHA with key parameters estimated from a dataset of FHA-insured mortgages. Those simulations are used to estimate the loan guarantees' subsidy rates, which are the lifetime cost of FHA's insurance claim payments minus fees, expressed as a percentage of the original loan amounts. The simulations are also used to estimate the balance in FHA's capital reserve account, which reflects the sum of all past subsidies plus accumulated interest. As of the end of fiscal year 2013, CBO estimates that the loan guarantees issued between 1992 and 2013 contributed $3 billion to FHA's capital reserves, $73 billion less than the amount those loan guarantees would have contributed based on their originally estimated subsidy rates. That large decline is mostly the result of the downturn in the housing market that began in 2007 and the severe recession that followed. The estimates reflect a combination of realized gains and losses to date and the expected gains or losses over the remaining life of the loan guarantees, but there is considerable uncertainty about the amount of any future gains or losses. Using its model to quantify that uncertainty, CBO finds that ninety percent of the simulated lifetime contributions of those loan guarantees to the capital reserve account are between negative $28 billion and positive $26 billion. Present budgetary procedures for calculating the subsidy rates do not fully account for the cost of the risk that the government bears. If costs were projected on a fair-value basis, which more closely corresponds to the economic costs by using market prices of comparable insurance, subsidy rates would be notably higher. For example, loan guarantees for fiscal years 2014 and 2015 are projected to have a weighted average subsidy rate of negative 5.5 percent under current budgetary treatment and have a small positive subsidy rate on a fair-value basis.
Download or read book Modeling the Budgetary Costs of FHA s Single Family Mortgage Insurance written by Congressional Budget Office and published by . This book was released on 2015-01-15 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the simulation model that the Congressional Budget Office (CBO) uses to project the budgetary costs of the Federal Housing Administration's (FHA's) single-family mortgage insurance program. CBO simulates defaults, recoveries, and prepayments on cohorts of mortgages insured by FHA with key parameters estimated from a dataset of FHA-insured mortgages. Those simulations are used to estimate the loan guarantees' subsidy rates, which are the lifetime cost of FHA's insurance claim payments minus fees, expressed as a percentage of the original loan amounts. The simulations are also used to estimate the balance in FHA's capital reserve account, which reflects the sum of all past subsidies plus accumulated interest. As of the end of fiscal year 2013, CBO estimates that the loan guarantees issued between 1992 and 2013 contributed $3 billion to FHA's capital reserves, $73 billion less than the amount those loan guarantees would have contributed based on their originally estimated subsidy rates. That large decline is mostly the result of the downturn in the housing market that began in 2007 and the severe recession that followed. The estimates reflect a combination of realized gains and losses to date and the expected gains or losses over the remaining life of the loan guarantees, but there is considerable uncertainty about the amount of any future gains or losses. Using its model to quantify that uncertainty, CBO finds that ninety percent of the simulated lifetime contributions of those loan guarantees to the capital reserve account are between negative $28 billion and positive $26 billion. Present budgetary procedures for calculating the subsidy rates do not fully account for the cost of the risk that the government bears. If costs were projected on a fair-value basis, which more closely corresponds to the economic costs by using market prices of comparable insurance, subsidy rates would be notably higher. For example, loan guarantees for fiscal years 2014 and 2015 are projected to have a weighted average subsidy rate of negative 5.5 percent under current budgetary treatment and have a small positive subsidy rate on a fair-value basis.
Download or read book Fannie Mae Freddie Mac FHA written by United States. Congress. House. Committee on the Budget and published by . This book was released on 2011 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mortgagee Review Board written by United States. Department of Housing and Urban Development and published by . This book was released on 1992 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Principles of Housing Finance Reform written by Susan M. Wachter and published by University of Pennsylvania Press. This book was released on 2016-09-23 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nearly a decade after the housing market's collapse triggered the Great Recession, members of both sides of the political aisle are calling for reform. Principles of Housing Finance Reform lays out a roadmap for reforms for a new housing finance system to achieve liquidity, access, and sustainability.
Download or read book FHA Single Family Housing Policy Handbook written by Brian Greul and published by . This book was released on 2021-06-18 with total page 1036 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Doing Business with FHA section in this FHA Single Family Housing Policy Handbook (SF Handbook) covers Federal Housing Administration (FHA) approval and eligibility requirements for both Title I lenders and Title II Mortgagees, as well as other FHA program participants. The term "Mortgagee" is used throughout for all types of FHA approval (both Title II Mortgagees and Title I lenders) and the term "Mortgage" is used for all products (both Title II Mortgages and Title I loans), unless otherwise specified.
Download or read book FHA Multi Family Housing Mortgage Insurance Program Hearing S Hrg 107 534 Committee On Banking Housing Urban Affairs United States Senate 107th Congress 1st Session written by and published by . This book was released on 2003 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Budget of the United States Government written by United States. Office of Management and Budget and published by . This book was released on 2010 with total page 1384 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Legislative Branch Appropriations for 2016 written by United States. Congress. House. Committee on Appropriations. Subcommittee on Legislative Branch and published by . This book was released on 2015 with total page 878 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget of the United States Government written by United States. Office of Management and Budget and published by . This book was released on 2010 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Year 2013 Analytical Perspectives Budget of the U S Government written by Office of Management and Budget (U S. ). and published by Government Printing Office. This book was released on 2012-02 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains analyses that are designed to highlight specified subject areas or provide other significant presentations of budget data that place the budget in perspective. This volume includes economic and accounting analyses; information on Federal receipts and collections; analyses of Federal spending; information on Federal borrowing and debt; baseline or current service estimates; and other technical presentations. This volume also contains supplemental material on a CD-ROM in the printed document with several detailed tables, including tables showing the budget by agency and account and by function, subfunction, and program.
Download or read book Privatization of Fannie Mae and Freddie Mac written by Harold L. Bunce and published by DIANE Publishing. This book was released on 1997 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report demonstrates that a significant proportion of prospective homeowners remains underserved by the mortgage finance industry. The report reviews and evaluates the framework of housing goals that has been established by Fannie Mae and Freddie Mac. It finds that the housing goals represent a promising approach to focusing their resources on the mortgage credit needs of homebuyers. Such a programmatic emphasis by these enterprises represents an appropriate exchange for the benefits that they receive through their ties with the Federal government.
Download or read book The Handbook of Mortgage backed Securities written by Frank J. Fabozzi and published by Oxford University Press. This book was released on 2016 with total page 831 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition, revised since the subprime mortgage crisis, is designed to provide not only the fundamentals of mortgage-backed securities and the investment characteristics that make them attractive to a broad range of investors, but also extensive coverage of state-of-the-art strategies for capitalizing on the opportunities in this market.
Download or read book Crabgrass Frontier written by Kenneth T. Jackson and published by Oxford University Press. This book was released on 1987-04-16 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first full-scale history of the development of the American suburb examines how "the good life" in America came to be equated with the a home of one's own surrounded by a grassy yard and located far from the urban workplace. Integrating social history with economic and architectural analysis, and taking into account such factors as the availability of cheap land, inexpensive building methods, and rapid transportation, Kenneth Jackson chronicles the phenomenal growth of the American suburb from the middle of the 19th century to the present day. He treats communities in every section of the U.S. and compares American residential patterns with those of Japan and Europe. In conclusion, Jackson offers a controversial prediction: that the future of residential deconcentration will be very different from its past in both the U.S. and Europe.
Download or read book Fiscal Year 2015 Analytical Perspectives Budget of the U S Government written by Office of Management and Budget (U S. ). and published by Government Printing Office. This book was released on 2014-03-14 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: Officially released on March 10, 2014. As one of the 4 volumes of the FY2015 Budget request of the President, the Analytical Perspectives volume contains analyses that are designed to highlight specified subject areas or provide other significant presentations of Federal budget data that place the Fiscal Year budget in perspective. This volume includes economic and accounting analyses; information on Federal receipts and collections; analyses of Federal spending; information on Federal borrowing and debt; baseline or current service estimates; and other technical presentations. This volume also contains supplemental material on a CD-ROM in the printed document with several detailed tables, including tables showing the budget by agency and account and by function, subfunction, and program. The Analytical Perspectives volume also contains supplemental materials with several detailed tables, including tables showing the budget by agency and account and by function, subfunction, program, and more,
Download or read book Ginnie Mae Annual Report written by Government National Mortgage Association and published by . This book was released on 1995 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Ginnie Mae Platinum Securities written by and published by . This book was released on 1998 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
