IFE Group conducted the independent analysis of the economic capital estimations of FHA’s mortgage insurance programs for more than a decade. FHA insures home mortgages for lower income households and first time home buyers. IFE Group processed the historical month-by-month performance of big data consisting of over 25 million loans; statistically estimated prepayment, default, and loss severity rates; and projected stochastic future economic scenarios and the associated prepayment and default events. The model was implemented under a Monte Carlo simulation framework to compute the economic value of the programs under normal and stressed economic scenarios. The model had been frequently verified and validated by various government agencies and the general public.