FHAThe annual FY14 FHA audit finds that it went from having net worth of negative $1.1 billion to positive $4.8 billion and now has a capital reserve of 0.41%, or a leverage ratio of 243! Because of this “success” some now suggest reducing the FHA annual mortgage premium from 1.35%. Lowering it will not only reduce revenue, but also borrower quality. As taxpayers backstop the FHA, please don’t do it.

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