economic net worth

(4) For purposes of this subsection: (A) The term “capital” means the economic net worth of the Mutual Mortgage Insurance Fund, as determined by the Secretary under the annual audit required under section 1735f–16 of this title . (B) The term “capital ratio” means the ratio of capital to unamortized insurance-in-force. (C) The term “economic net worth” means the current cash available to the Fund, plus the net present value of all future cash inflows and outflows expected to result from the outstanding mortgages in the Fund. (D) The term “unamortized insurance-in-force” means the remaining obligation on outstanding mortgages which are obligations of the Mutual Mortgage Insurance Fund, as estimated by the Secretary.

Source

12 USC § 1711(f)(4)


Scoping language

None identified. Default scope is assumed to be the entire title.
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