An Actuarial Review for Fiscal Year 1991 of the Federal Housing Administration’s Mutual Mortgage Insurance Fund: Final Report

This historic report, carried out by Price Waterhouse (now PricewaterhouseCoopers) 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 1991. Such annual reports are a requirement of the National Affordable Housing Act. The report found that the fund had a value of -$669 million at the end of FY1991, with a capital ratio of -0.20 percent.