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Statement from NAHB Chairman Tom Woods on FHA Actuarial Report

WASHINGTON, D.C. – November 16, 2015 – (RealEstateRama) — Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo., issued the following statement after the Federal Housing Administration released its annual actuarial report to Congress:

“Today’s FHA report is very positive. The FHA Mutual Mortgage Fund posted an improvement of $19 billion over the past year and its capital-reserve ratio increased to 2.07%, just above the congressionally mandated level of 2%. This upward trend is another indicator that the housing recovery continues to move forward and that FHA’s financial picture continues to brighten. This report should provide momentum for the agency to take additional steps to expand credit opportunities for first-time home buyers and young families seeking to enter the housing market.”

Stephanie Pagan