Friday, December 13, 2013
Annual Report to Congress Shows Progress
Written by: Carole Galante
Today, the HUD released its Fiscal Year (FY) 2013 Annual Report to Congress on the Financial Status of the Mutual Mortgage Insurance (MMI) Fund, which reports the results of an independent actuarial evaluation of the Fund. According to the independent actuary, the Fund has gained $15 billion in value and now stands at an economic net worth of negative $1.3 billion with a capital reserve ratio of negative 0.11 percent.
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