Relevant:
- Home Loans Brokered By Nonprofits Helped Fuel The Housing Crisis
- FHA's Stevens Reports: Downpayment Assistance May Wind Up Costing the FHA $13.6 Billion
- 30% of FHA Foreclosures Linked to Downpayment Assistance
- FHA Loses $4.6 Billion - Denies Insolvency
- OECD Raises Estimate of Subprime Losses to $422 billion
2008-06-10 — nakedcapitalism.com
Currently, FHA is solvent. In fact, we have a reserve of about $21 billion.
However, as a result of our annual re-estimate, we had to book an additional of $4.6 billion in unanticipated long-term losses, mostly due to the increased number of certain types of seller-funded loans in the FHA portfolio....
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