Study of Michigan Initiative
Article Abstract:
Michigan's new affordable housing program, the Michigan Initiative, reached more than 6,000 households and produced $18.2 million in mortgages between Oct 1990 and Dec 1992, according to a study by Michigan State University. The Michigan State Housing Development Authority and Freddie Mac, cosponsors of the counseling and financing program, commissioned the study. It found that 35% of the participants already had bought homes and 60% of the remainder planned to do so within a year. The study also indicated that the program was reaching its target market of young and low-income buyers.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1993
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Financial review of FHA's single-family fund
Article Abstract:
An actuarial assessment of the Federal Housing Administration's MutualMortgage Insurance Fund has put its worth at -$700 million as of Sep 1991. The financial review, which was conducted by Price Waterhouse, also predicts that single-family insurance program will meet the 2% capital ratio requirement by the year 2000 provided mortgage rates are 8.4% and house values rise by 3.2% yearly. Despite the positive outlook, the program is still vulnerable to economic trends.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1993
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FHA insurance fund continues to strengthen
Article Abstract:
Price Waterhouse has made a positive assessment of the Federal Housing Authority's Mutual Mortgage Insurance Fund. The fund has been valued to be worth $4.6 billion in 1994, an amount that may have been acquired from the increase in prepayments made in 1993. Borrowers recognized the advantage of low payment terms, but the fund may pose more risk to mortgage owners due to an increase in refinancing activities.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1995
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