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Accounting for FHA's Single-Family Mortgage Insurance Program on a Fair-Value Basis

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CBO – Accounting for FHA’s Single-Family Mortgage Insurance Program on a Fair-Value Basis, May 18, 2011 – Letter to the Honorable Paul Ryan

  • “Over the past two years, the Federal Housing Administration (FHA) has guaranteed more than 17 percent of new and refinanced mortgages on single-family homes in the United States. The costs of FHA’s single-family mortgage insurance program are recorded in the federal budget using a methodology spelled out in the Federal Credit Reform Act of 1990 (FCRA). This analysis examines the budgetary impact of using a different accounting approach—fair-value estimating—which provides a more comprehensive measure of the cost of that program.”
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