FHA: Recent History and Future Prospects

Robert Van Order and Anthony Yezer

Housing Policy Debate, 2014, vol. 24, issue 3, 644-650

Abstract: The Federal Housing Administration (FHA) deserves considerable credit for helping support the housing market during the recent financial crisis by increasing its own market share. However, as the recovery continues, the FHA can gradually return to its "traditional" role as an insurer of low-down-payment home mortgages for low-to-moderate-income and first-time homebuyers. A major concern going forward is susceptibility to increased adverse selection if it continues in nontraditional markets. Indeed, the modest market share of the FHA going into the housing collapse was important both in limiting its losses and in allowing it to maintain the market when other traditional secondary market makers failed.

Date: 2014
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DOI: 10.1080/10511482.2013.849749

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