HUD Secretary, FHA Commissioner Report on FHA'S Finances

Department of Housing and Urban Development (HUD) Secretary Shaun Donovan and Federal Housing Administration (FHA) Commissioner David H. Stevens today briefed members of the media, industry leaders and congressional Members on the FHA’s financial outlook, in coordination with the agency’s release of its annual independent actuarial study. The independent study shows that FHA has sustained significant losses from loans made before 2009, and the capital reserve ratio has fallen below

To read the entire article, please visit: http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2009/HUDNo.09-214