FHA Capital Exceeds its 2% Target

For the first time since 2008, the Federal Housing Administration's Mutual Mortgage Insurance Fund has exceeded its 2% statutory capital requirements by reaching 2.07%. The FHA benefited from a .5% reduction earlier this year which stimulated a 42% increase in volume, including a 27% increase in purchase-loan endorsements. No premium hike is expected. [11/17/15]