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fha: FHA Head Says Housing Market Is On Life Support - 05/25/10 12:38 PM
According to David Stevens, head of FHA, the U. S. housing market is on life support. In an article in Bloomberg Businessweek, Stevens is quoted as saying: “This is a market purely on life support, sustained by the federal government.” He went on to say that the FHA’s monopoly of residential lending is “a sign of a very sick system.”
 

We should all be concerned by the level of lending from FHA and the potential for disaster should large numbers of the loans default. Earlier this year an article in the Washington Post reported that FHA delinquencies had increased … (108 comments)

fha: FHA--Another Example Of Government Mismanagement? - 10/09/09 03:20 PM
Critics of FHA are predicting the government mortgage giant could be next in line for a bailout, an article in today’s New York Times details. With the FHA recently assuming a significantly larger percentage of all mortgages—it now insures 23% of the nation’s mortgages versus only 2% in 2006—the agency suffers from a default rate now more than 8%, of its total.
 
Last month the reserve fund fell below the government mandated 2% of its portfolio, and on Thursday lawmakers grilled FHA Commissioner, David Stevens. While Mr. Stevens tried to dispel lawmakers’ concerns, the financial stability of the agency seems … (8 comments)

 

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