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来源类型Working Paper
规范类型报告
DOI10.3386/w15802
来源IDWorking Paper 15802
Reassessing FHA Risk
Diego Aragon; Andrew Caplin; Sumit Chopra; John V. Leahy; Yann LeCun; Marco Scoffier; Joseph Tracy
发表日期2010-03-04
出版年2010
语种英语
摘要Federal Housing Administration (FHA) insurance has doubled over the past two years and is projected to redouble to $1.5 trillion over the next five. Despite clear signs of strain in the FHA's Mutual Mortgage Insurance Fund, a recent actuarial review indicates that the FHA will not need any form of government support. We identify four risk factors that make such a funding request more likely; the review underestimates how many FHA borrowers are underwater and in economic distress; it uses measures of house values that lower loss estimates; it does not incorporate early-warning signals of future losses that are available from mortgage delinquency; and it ignores potential risks associated with recent down-payment assistant programs despite higher losses on previous programs of this type. We propose measures that could be taken to improve the predictive accuracy of FHA risk assessment.
主题Microeconomics ; Households and Firms ; Financial Economics ; Financial Institutions ; Public Economics
URLhttps://www.nber.org/papers/w15802
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/573477
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GB/T 7714
Diego Aragon,Andrew Caplin,Sumit Chopra,et al. Reassessing FHA Risk. 2010.
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