House and Senate appropriators are moving toward approving the Department of Housing Urban Development's fiscal year 2012 budget bill with few changes to FHA and Government National Mortgage Association programs.
The Senate Appropriations Committee this week approved a HUD budget that will keep the loan commitment authority for FHA at $400 billion -- the same as in fiscal year 2011, which ends next week.
At Wednesday afternoon's markup session, the Senate panel also agreed to keep Ginnie Mae's loan commitment authority at $500 billion in FY 2012.
In the House, the Transportation and HUD Appropriations subcommittee approved similar commitment levels for FHA and Ginnie Mae.
Based on current loan production and MBS issuance, FHA and Ginnie will have adequate commitment authority with room to spare.
During the first 11 months of fiscal year 2011, FHA endorsed $220 billion of single family loans while Ginnie Mae issuers securitized $323 billion of MBS.
