2012-02-14washingtonpost.com

Shaun Donovan, secretary of Housing and Urban Development, said in a conference call with reporters Monday that the financial firms involved in the settlement agreed to provide up to $1 billion to shore up the capital reserve fund of the FHA, which provides mortgage insurance on loans made by approved lenders throughout the country.

That will last, what, 6 months? Way to go FHA. No, we reckon you will continue to be dogged by your failure to stop SFDPA and other forms of poor/fraudulent underwriting for quite some time yet...



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