MGIC Investment Corp. (MTG)

[tommiegun54]

FHA HAS NO NEAR TERM PLANS TO INCREASE IT'S FEES

"WASHINGTON - Secretary Marcia L. Fudge on Tuesday released the following statement on the quarterly report to Congress on FHA Single-Family Mutual Mortgage Insurance Fund Programs: "

"The health of FHA’s Mutual Mortgage Insurance Fund² has remained resilient despite the financial challenges faced by homeowners with FHA-insured mortgages in 2020. The fund stands at more than $80 billion and remains well above the 2% minimum capital reserve required. Through the pandemic, the FHA portfolio has experienced increased levels of seriously delinquent loans and a heightened level of loans in forbearance."

"Given the current FHA delinquency crisis and our duty to manage risks and the overall health of the fund, we have no near-term plans to change FHA’s mortgage insurance premium pricing. We will continue to rigorously evaluate our strategy and work transparently with Congress. Our number one priority is helping families keep their homes and remain safe as we work toward an equitable recovery."

https://www.hud.gov/press/press_releases_media_advisories/HUD_No_21_049