As for the insurance fund, the current balance is about $3.6 billion which is roughly .5% of the $685 billion in outstanding FHA-insured loans. Congress has mandated long ago that the fund maintain a minimum balance of 2% of the outstanding loans that are insured. This would mean that the fund needs to be around $13.7 billion. Hence, the fund is about $10.1 billion short of the mandate.
I'll post more news as information becomes available.
Have a great day and feel free to comment or contact me if you have questions regarding the new FHA guidelines or mortgage financing.