Carol Galante: While FHA Actuarial Report brings good news, 3 challenges still remain

for the first time.4 Because FHA's standards for insuring loans are gener- ally less.. Commissioner Carol J. Galante emphasized in her letter to Congress. nual report prompted Congress to continue to take a hard look at FHA's. ing risk factors that led to FHA's current solvency problems, and (3) plac-.

"The [actuarial] report demonstrates the long-term strength of the fund, while not shying away from the challenges. because FHA has been underestimating its future losses and overestimating the.

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Notes: Data are for calendar years with these exceptions: 1965 and 1966, year ended 9/30; 1967, 15 months ended 12/31. Starting in 1979, accounting rules required insurance companies to value the equity securities they hold at market rather than at the lower of.

The good news is that this year the actuarial shows that the capital reserves continue to grow above the base minimum of the 2% legislated floor, standing at 2.76%. But risk remains and we have learned through history that the reserves held today still may underestimate the true loss exposure in a nationwide recession.

Still, actuarial. Galante’s bifurcation suggestion. According to Alex Spanko, writing in Reverse Mortgage Daily, Galante had other suggestions for reforming FHA apart from the reverse mortgage.

Carol Galante, FHA’s new acting commissioner presented highlights of the agency’s FY2011 Report to Congress in a press briefing. projected losses over the next 30 years. The independent actuarial.

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Accentuate the positive. That’s Job One at the Federal Housing Administration (FHA), which is touting itself as a turnaround story – a $3 billion surplus, no need for a government handout this year and an improving credit profile – ahead of acting Commissioner Carol Galante.

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underwriting and mortgage pricing decisions while asking taxpayers to shoulder most of the risk. Our plan solves these multifaceted challenges by relying heavily on the existing infrastructure, thereby easing the transition and ensuring the new structure will.