Federal Housing Administration (FHA) Resource Center

Welcome to MBA's FHA Resource Center, your comprehensive online source for current information related to the Federal Housing Administration. Check back often for updates.

FHA Resource Center Spotlight

May 25, 2011: MBA's Berman Testifies on the Role of FHA, Ginnie Mae and RHS in the Mortgage Markets

Michael D. Berman, CMB, Chairman of the Mortgage Bankers Association, testified today before the U.S. House of Representatives Financial Services Subcommittee on Insurance, Housing and Community Opportunity at a hearing entitled "Legislative Proposals to Determine the Future Role of FHA, RHS and GNMA in the Single- and Multi-Family Mortgage Markets." Read the full testimony.

September 16, 2010: MBA Releases The Future of the FHA and the Ginnie Mae

MBA's Council on the Future of FHA and Ginnie Mae released "The Future of the Federal Housing Administration and the Government National Mortgage Association." The report looks back at some of the lessons learned from the boom and bust of the housing market and proposes solutions that would specifically help sustain FHA and Ginnie Mae during this crisis and beyond. Read the report.

June 11, 2010: MBA Reacts to House Passage of FHA Reform Act

Robert E. Story, Jr., CMB, Chairman of the Mortgage Bankers Association (MBA), today applauded passage in the House of Representatives of H.R. 5072, the FHA Reform Act of 2010.
Mr. Story issued the following comment:
-FHA is playing a critical role in today's housing market, helping to provide more affordable financing for borrowers looking to purchase or refinance a home. The reforms contained in this bill will help stabilize FHA's finances by allowing the agency to raise its annual premiums and better take corrective action against lenders who are putting the program at risk.
-Importantly, the bill also contains provisions to increase FHA's multifamily loan limits for elevator buildings and in extremely high cost areas. One of MBA's top legislative priorities, increasing the multifamily limits in this way will help lenders finance the construction and refurbishment of much-needed affordable rental housing in many urban areas of this country.
-We hope the Senate will be empowered by the House action and will consider similar legislation quickly. When it does, we hope it will adopt the House language on multifamily loan limits and that Senators will work to keep a careful balance that will allow FHA to address lender enforcement and loan indemnification without discouraging responsible lenders from participating in the FHA program."
Read MBA's summary of the bill.

November 12, 2009: MBA Comments on FHA Annual Independent Actuarial Study

On Thursday, November 12, the Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) released the FHA's annual independent actuarial study. The review shows that FHA sustained significant losses on loans made before 2009 and projects that the capital reserve account - designed to cover losses in excess of those already projected for by the actuary - will drop below its congressionally-mandated level of two percent to .53 percent.

Click on each of the following links to find MBA's statement, a joint letter on FHA that MBA sent to Capitol Hill this morning (Senate version and House version), FHA's news release and the actuarial reports for the purchase programs and Home Equity Conversion Mortgage (HECM) program funds.

October 26, 2009: MBA Convenes Council on the Future of FHA

On Monday, October 26, the Mortgage Bankers Association (MBA) today announced it has convened an executive-level panel of members to make policy recommendations to help ensure that the Federal Housing Administration (FHA) can continue to fulfill its mission in an evolving mortgage marketplace. Read the press release.

February 18, 2009: President Obama Unveils Homeowner Affordability and Stability Plan

On Wednesday, February 18, President Obama unveiled his Homeowner Affordability and Stability Plan designed to provide assistance for struggling homeowners and entice and empower servicers to help more borrowers avoid foreclosure.

Click on each of the following links to find MBA’s public statement, an MBA summary of the plan and an executive summary, fact sheet and Q&A document from the White House.

February 17, 2009: President Obama Signs the Economic Stimlus Package

President Obama signed H.R. 1, the "American Recovery and Reinvestment Act of 2009" into law on February 17, 2009. The $787 billion legislation represents significant compromise on several major issues. For example, President Obama's promised middle-class tax cut has been reduced and the state fiscal stability fund, to be spent mostly on education, saw a $25 billion reduction.

On the real estate front, the bill restores 2008 government-sponsored enterprises (GSE) and Federal Housing Administration (FHA) loan limits for the 2009 calendar year and increases the Home Equity Conversion Mortgage (HECM) limit to $625,500. The bill voted on today also increased the $7,500 First Time Homebuyer Credit-enacted under the Housing and Economic Recovery Act (HERA)-to $8,000 and extends the credit to December 1, 2009, with no repayment requirement. MBA was working to increase the credit to $15,000 or ten percent of the area median house price, and to have the credit available at closing. The bill allows small businesses-enterprises with less than $15 million in annual revenues-to elect a five-year Net Operating Loss (NOL) carryback incurred for tax years ending or alternatively, beginning in 2008.

January 9, 2009: MBA Testifies on FHA Oversight

On Friday, January 9, MBA President and CEO John A. Courson testified before a House Financial Services Committee hearing on "FHA Oversight of Loan Originators." Courson's testimony focused on the need to provide both Federal Housing Administration (FHA) and Ginnie Mae with more staff and newer technology so they can better serve the housing market, improve the quality of FHA originations and reduce mortgage fraud. During the hearing, Courson also explained the negative consequences mortgage cram down legislation would have on FHA and Ginnie Mae programs. These outcomes were also agreed upon by HUD Deputy Assistant Secretary for Single Family Housing Programs Phillip Murray.

Read Testimony by MBA's President and CEO John A. Courson.

Background and Resources

The Federal Housing Administration (FHA), is the largest government insurer of mortgages in the world, insuring over 35 million properties since its inception in 1934. Currently, FHA has 4.8 million insured single-family mortgages and 13,000 insured multifamily projects in its portfolio.

A part of the United States Department of Housing and Urban Development (HUD), FHA provides mortgage insurance on loans made by FHA-approved lenders throughout the United States. While FHA insured loans must meet certain requirements established by FHA to qualify for the insurance, lenders bear less risk because FHA pays the lender if a homeowner defaults on his or her loan.

MBA Resources Additional Resources

MBA Speakers Bureau
Take advantage of the unparalled expertise only MBA can offer. The following experts are available to address your organization on topics related to the FHA and how they affect your business:
  • Steve O'Connor, Senior Vice President, Government Affairs
  • Cheryl Malloy, Senior Vice President, Multifamily and Governance (Multifamily topics)
  • Ken Markison, Associate Vice President and Regulatory Counsel
  • Vicki Vidal, Associate Vice President, Loan Administration (Servicing topics)
More information»