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Actuarial Review of the Mutual Mortgage Insurance Fund FY2004

The National Affordable Housing Act requires an independent actuarial analysis of the economic net worth and soundness of the FHA's Mutual Mortgage Insurance Fund. This actuarial report presents the findings with respect to the required analysis for fiscal year 2004 using data as of March 31, 2004.

Sections

Executive Summary

 -   I. Introduction
 -   II. Summary of Findings and Comparison with Fiscal Year 2003
 -   III. Current Status of the Fund
 -   IV. Characteristics of the FY 2004 Book of Business
 -   V. MMI Fund Sensitivities
 -   VI. Summary of Methodology
 -   VII. Considerations and Limitations
 -   VIII. Conclusions
Appendices