Washington, D.C. – The Housing Policy Council (HPC) released the following statement on the Federal Housing Administration’s (FHA) 2019 Annual Report to Congress:
“The Housing Policy Council commends HUD Secretary Ben Carson and FHA Commissioner Brian Montgomery for their commitment to improving the health of the FHA MMI Fund. Yesterday’s release of the FHA annual report details a positive trend for the fund, the result of strong market and economic conditions as well as FHA’s pursuit of policy and risk management enhancements to bolster the fund. The Housing Policy Council is encouraged by the improvements; the continued economic health and soundness of the MMI fund enables FHA to continue to serve as a stable resource for Americans pursuing homeownership. HPC also supports HUD’s request to establish a separate insurance fund for the HECM reverse mortgage program, given the unique attributes and performance of this product, as well as continued funding for FHA’s single-family technology upgrades. HPC appreciates the activity underway at FHA to modernize its technology systems, to fulfill the critical mission of the agency and improve its risk management capabilities.”
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Contact: Meg.Burns@housingpolicycouncil.org
Press Inquiries: Media@housingpolicycouncil.org