[StBernard] Chairman Frank Statement on Financial Status of Federal Housing Administration

[Westley Annis]

Chairman Frank Statement on Financial Status of

 Federal Housing Administration

 

WASHINGTON, D.C. - House Financial Services Committee Chairman Barney Frank
(D-MA) issued the following statement today on the Federal Housing
Administration's annual report to Congress, which shows that the economic
value of the FHA's Mutual Mortgage Insurance Fund (MMIF) has improved by $1
billion since last year:

 

"I am pleased by the news in this annual report that the FHA has made
financial progress over the last year. This progress is the result of
bipartisan efforts since 2008 to strengthen and modernize the FHA and the
Mutual Mortgage Insurance Fund and of the Administration's commitment to
taking actions necessary to maintain the FHA's financial health. 

 

"Today's news is encouraging and I am optimistic about the Fund's continued
financial health. However, there is still room for improvement in efforts to
ensure that the Fund is financially sound; today's news should not lead us
to become complacent about its financial status. This summer the House
adopted a number of provisions to improve FHA lender and Fund oversight and
I hope that Congress will swiftly enact these additional reforms." 

 

Note: The House approved the FHA Reform Act in June. Click here
<http://financialservices.house.gov/press/PRArticle.aspx?NewsID=1315>  for
more information.

 

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