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NAR Praises Positive Federal Housing Administration Actuarial Review

Media Contact: Jenny Werwa / 202-383-1193 / Email

WASHINGTON (December 13, 2013) – The following is a statement by National Association of Realtors® President Steve Brown:

“NAR is a strong supporter of the Federal Housing Administration and its vital role in the mortgage marketplace.

“The 2013 Actuarial Review released today shows that FHA is on a positive trajectory to rebuild its capital reserve fund and meet the congressionally required 2 percent excess reserve amount by 2015. These promising gains are the result of strong leadership and a commitment to policies that balance risk with FHA’s mission of making mortgage insurance available to qualified homebuyers.

“In light of this report, NAR believes that Congress should not dramatically change the FHA or redefine its purpose. We will continue our work with FHA to help make the dream of homeownership a reality for millions more Americans.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

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