Recursion Cited in FHA Annual MMI Fund Report to Congress

On November 15, FHA released its annual report to Congress regarding the status of its Mutual Mortgage Insurance (MMI) Fund[1]. The highlight was the increase in the capital reserve ratio by almost 3% last year to 11.11% in 2022. This was the fourth consecutive year of significant growth in this measure of performance.

Recursion provided the analytics used to demonstrate successful fulfillment of FHA’s mission, as discussed in Chapter 2 - Access to Credit to Underserved Borrowers. Highlights include:

• FHA’s 84% share of purchase mortgages to first time homebuyers, which Recursion’s data showed was 37 percentage points higher than the share of originations for rest of the market in fiscal year 2022.
• FHA provides a greater share of its lending to low-income households than do other market participants.
• By share of total FHA originations, FHA served three times as many Black borrowers by share than the rest of the market, and two times as many Hispanic borrowers by share.
• FHA provides a greater share of its lending to homebuyers under the age of 35 than do other market participants.

And much more.

Recursion is proud to be the trusted provider of accurate and timely mortgage data to both public and private sector market participants.

---

[1] https://www.hud.gov/sites/dfiles/Housing/documents/2022FHAAnnualRptMMIFund.pdf