Last week, the Federal Housing Authority (FHA) announced major changes to ensure its long term capital soundness.  This is a result of a drop in the FHA’s capital reserves below the Congressionally-mandated level of two percent.  These changes were made so the FHA could continue to fulfill its mission of serving homeowners and continuing to help the recovery of the housing industry.

NAR Regulatory Staff has developed an issue brief with additional information.  Read it here. - pdf