FHA Watch, July 2013 (Vol. 2, No. 7)

Article Highlights

  • PATH Act offers significant and common-sense FHA reform options.

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  • FHA Solvency Act not the right prescription for FHA reform.

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  • FHA overall delinquency rate increases...again.

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Explore the Nightmare at FHA project.

This Issue’s Highlight

Representatives and Senators Release Two Draft FHA Reform Bills

Earlier this month, House Financial Services Committee Chairman Jeb Hensarling (R-TX), along with subcommittee chairs Scott Garrett (R-NJ), Randy Neugebauer (R-TX), and Shelley Moore Capito (R-WV), unveiled the Protecting American Taxpayers and Homeowners (PATH) Act of 2013. Title II encompasses the most significant and common-sense Federal Housing Administration (FHA) reform legislation in memory.

Also earlier this month, Senate Banking Committee Chairman Tim Johnson (D-SD) and ranking member Mike Crapo (R-ID) unveiled their FHA Solvency Act of 2013. Unfortunately, it is deeply flawed and does not address the need for fundamental reform of the FHA.

This Month’s Features

Spotlight on FHA Reform Legislation
Representatives and Senators Release Two Draft FHA Reform Bills

Spotlight on Insolvency
FHA’s Estimated GAAP Net Worth Equals –$26.21 Billion, with a Capital Shortfall of $46–66 Billion

Spotlight on Delinquency
Overall Rate Increases to 15.53 Percent in June from 14.46 Percent in May

Spotlight on Best Price Execution
FHA, VA, and USDA Pricing Dominance Increase

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