FHA Watch, January/February 2013
Edward J. Pinto | American Enterprise Institute
February 26, 2013

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Article Highlights

  • FHA fairy tales: separating fact from fiction.

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  • Nightmare at FHA continues, with capital continuing to decline.

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Read Vol. I, No. 12, December 2012.
Explore the Nightmare at FHA project.

This Issue's Highlight
FHA Fairy Tales

A number of fairy tales were told at the House Financial Services Committee’s February 6 hearing on the proper role of the Federal Housing Administration (FHA) in our mortgage insurance market. FHA Watch separates fact from fiction in this new recurring feature.

This Month's Features

FHA Fairy Tales
Debunking Two Fairy Tales from the Financial Services Committee’s February Hearing

Spotlight on Insolvency
FHA’s Estimated GAAP Net Worth Equals –$26.24 Billion, with a Capital Shortfall of $46–65 Billion

Spotlight on Delinquency
Overall Rate Increases to 16.72 Percent as 30-Day Delinquencies Rise

Spotlight on Best Price Execution
FHA’s Pricing Dominance Eases as Ginnie’s MBS Execution Advantage over Fannie Narrows

Spotlight on Differences Between the Practices of the VA and the FHA
An Overview of the Veterans Affairs Residual Income Approach

End the Nightmare at FHA
Fundamental and Comprehensive Reform of the FHA Is Urgently Needed

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About the Author

 

Edward J.
Pinto
  • An executive vice president and chief credit officer for Fannie Mae until the late 1980s, Edward Pinto has done groundbreaking research on the role of government housing policies in the lead-up to the financial crisis. In particular, his data have revealed striking facts about the contributions of housing policy to the mortgage crisis. Two of his major research papers have been submitted to the Financial Crisis Inquiry Commission: "Government Housing Policies in the Lead-up to the Financial Crisis: A Forensic Study" and "Triggers of the Financial Crisis." At AEI Mr. Pinto is continuing his work on the role of housing policies in the financial crisis and researching policy considerations and options for rebuilding our housing-finance sector.
  • Phone: 240-423-2848
    Email: edward.pinto@aei.org

  • Assistant Info

    Name: Emily Rapp
    Phone: 202-419-5212
    Email: emily.rapp@aei.org
Show More | See Full Profile

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