17.11.2011 - FHA can't defy housing market's warnings: The Ticker
Get ready for the prospect of another federal housing agency needing to raise billions of dollars, most likely through extra taxpayer support. The Federal Housing Administration, in its annual report to Congress yesterday, said independent actuaries give the agency 50-50 odds of having to raise money in the next few years because its net worth is close to zero. The FHA since the 1930s has been providing government guarantees on mortgages for low- and moderate-income homebuyers. Until a few years ago, the FHA was a minor part of the housing market. Now, it guarantees more than $1 trillion in home loans............................................Full Article: Source
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