000			02777cam a22004217 4500
001			w15802
003			NBER
005			20211020111242.0
006			m o d
007			cr cnu||||||||
008			210910s2010 mau fo 000 0 eng d
100	1		_aAragon, Diego.
245	1	0	_aReassessing FHA Risk / _cDiego Aragon, Andrew Caplin, Sumit Chopra, John V. Leahy, Yann LeCun, Marco Scoffier, Joseph Tracy .
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2010.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w15802
500			_aMarch 2010.
520	3		_aFederal Housing Administration (FHA) insurance has doubled over the past two years and is projected to redouble to $1.5 trillion over the next five. Despite clear signs of strain in the FHA's Mutual Mortgage Insurance Fund, a recent actuarial review indicates that the FHA will not need any form of government support. We identify four risk factors that make such a funding request more likely; the review underestimates how many FHA borrowers are underwater and in economic distress; it uses measures of house values that lower loss estimates; it does not incorporate early-warning signals of future losses that are available from mortgage delinquency; and it ignores potential risks associated with recent down-payment assistant programs despite higher losses on previous programs of this type. We propose measures that could be taken to improve the predictive accuracy of FHA risk assessment.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aD14 - Household Saving • Personal Finance _2Journal of Economic Literature class.
690		7	_aG21 - Banks • Depository Institutions • Micro Finance Institutions • Mortgages _2Journal of Economic Literature class.
690		7	_aG28 - Government Policy and Regulation _2Journal of Economic Literature class.
690		7	_aH81 - Governmental Loans • Loan Guarantees • Credits • Grants • Bailouts _2Journal of Economic Literature class.
700	1		_aCaplin, Andrew. _97360
700	1		_aChopra, Sumit.
700	1		_aLeahy, John V. _915002
700	1		_aLeCun, Yann.
700	1		_aScoffier, Marco.
700	1		_aTracy, Joseph.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w15802.
856	4	0	_uhttps://www.nber.org/papers/w15802
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w15802
942			_2ddc _cW-PAPER
999			_c332320 _d290882