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Highlights

Pursuant to a congressional request, GAO reviewed the Federal Housing Administration's (FHA) Mutual Mortgage Insurance Fund, focusing on: (1) an estimate of the Fund's economic net worth as of the end of fiscal year 1994; (2) the results of the legislatively prescribed capital reserve ratio that expresses economic net worth as a percentage of insurance-in-force; and (3) a comparison between the GAO estimate of the Fund's economic net worth and an estimate prepared by an accounting firm.

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