Relevant:
- FHA's Stevens Reports: Downpayment Assistance May Wind Up Costing the FHA $13.6 Billion
- In an F.H.A. Checkup, a Startling Number
- Report: U.K. Government to Insure up to £100 billion in RBS Loans
- Report: Mortgage fraud reports to law enforcement up in 2009
- Mortgage Buybacks May Cost Lenders $120 Billion, JPMorgan Says
2009-12-04 — nationalmortgagenews.com
And default they did. The latest FHA actuarial report calculates the damage SFDP inflicted on the FHA Mutual Mortgage Insurance Fund in startling detail. If the government had never endorsed SFDP loans, the economic value of the MMIF would be $13.2 billion as of September 30 — instead of $3.6 billion — a difference of almost $10 billion. In other words, FHA would be in stronger financial shape today.
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