IDEAS home Printed from https://ideas.repec.org/p/nbr/nberwo/3592.html
   My bibliography  Save this paper

The Changing Fortunes of FHA's Mutual Mortgage Insurance Fund and the Legislative Response

Author

Listed:
  • Patric H. Hendershott
  • James A. Waddell

Abstract

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.

Suggested Citation

  • Patric H. Hendershott & James A. Waddell, 1991. "The Changing Fortunes of FHA's Mutual Mortgage Insurance Fund and the Legislative Response," NBER Working Papers 3592, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:3592
    Note: ME
    as

    Download full text from publisher

    File URL: http://www.nber.org/papers/w3592.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Patric H. Hendershott & William R. Schultz, 1993. "Equity and Nonequity Determinants of FHA Single‐Family Mortgage Foreclosures in the 1980s," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 21(4), pages 405-430, December.
    2. Xudong An & Raphael Bostic, 2008. "GSE Activity, FHA Feedback, and Implications for the Efficacy of the Affordable Housing Goals," The Journal of Real Estate Finance and Economics, Springer, vol. 36(2), pages 207-231, February.
    3. Onder, Zeynep, 1998. "Individual and Neighborhood Effects on FHA Mortgage Activity: Evidence from HMDA Data," Journal of Housing Economics, Elsevier, vol. 7(4), pages 343-376, December.
    4. Patric H. Hendershott & Thomas G. Thibodeau & Halbert C. Smith, 2009. "Evolution of the American Real Estate and Urban Economics Association1," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(4), pages 559-598, December.
    5. Brent C. Smith, 2011. "Mortgage reform and the countercyclical role of the Federal Housing Administration's mortgage mutual fund insurance," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 97(1Q), pages 95-110.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:3592. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/nberrus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.