“As of June 3, 2013, most FHA loans will again require mortgage insurance for the life of the loan. Why? The once healthy MMIF now is struggling to stay afloat. In fact, an audit, conducted by the Integrated Financial Engineering Inc., concluded that FHA had reserves of $30.4 billion, but will experience a net loss of $46.7 billion for 2012 on existing loans in its primary account. The agency entered fiscal year 2013 at negative $16.3 billion. By comparison, the FHA MMI Fund had a negative economic value of $2.6 billion in 1990 before rebounding later in the decade.”
http://mynorthwest.com/800/2207994/FHA-no-longer-will-drop-mortgage-insurance-premiums
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