Actuarial Review of MMI Fund as of FY 1999

This historic report, carried out by Deloitte & Touche LLP on behalf of the Federal Housing Administration (FHA), is an independent actuarial analysis of the economic net worth of the FHA's Mutual Mortgage Insurance Fund for Fiscal Year 1999. Such annual reports are a requirement of the National Affordable Housing Act. The report found that the fund had a value of $16.6 billion at the end of FY1999, with a capital ratio of 3.8 percent.