Congressmen Al Green’s and Emanuel Cleaver’s Statements on the Federal Housing Administration Meeting the Minimum Reserve Requirement

(Washington, DC)—On Tuesday, November 17, 2015, Congressman Al Green, Ranking Member of the Financial Services Oversight and Investigations Subcommittee, and Congressman Emanuel Cleaver, Ranking Member of the Financial Services Housing and Insurance Subcommittee released the following statements on the Federal Housing Administration meeting the minimum reserve requirement:

“I am pleased to learn that the Federal Housing Administration has met its minimum threshold for its capital reserve ratio. FHA provided a vital service for our economy by providing much needed liquidity to bolster the housing market. I commend FHA and Department of Housing and Urban Development Secretary Julian Castro for taking the necessary steps to strengthen FHA’s fiscal position and ensure that it can continue to serve our communities,” said Congressman Al Green, Ranking Member of the Financial Services Oversight and Investigations Subcommittee. “I trust that FHA will now be able to redouble its efforts to help more Americans, who can afford a home, accomplish the American Dream of homeownership.” 

“It is encouraging that the Federal Housing Administration has met its minimum threshold for its capital reserve ratio for the first time since 2009. I applaud the Department of Housing and Urban Development Secretary Julian Castro for taking the vital steps to reinforce FHA’s fiscal position and taking steps to expand access to qualified borrowers nationwide,” said Congressman Emanuel Cleaver, Ranking Member of the Financial Services Housing and Insurance Subcommittee.