The FHA Mutual Mortgage Insurance Fund, which has been below the levels mandated by Congress for the past two years, appeared to come under more pressure in the first quarter of 2012. The Department of Housing and Urban Development reported that total capital resources available to the MMIF declined by $1.0 billion to $32.3 billion as of the end of March. Total MMIF capital has hit lower marks over the past two years – it fell to $31.6 billion in the first quarter of 2011 – but the fund’s total exposure has been climbing steadily. HUD reports the financial health of the MMIF only at the end of its fiscal year...