September 27, 2013

Fed Housing Administration Broke, Due to Bad Loans




http://in.reuters.com/article/2013/09/27/usa-housing-bailout-idINL2N0HN0VE20130927

UPDATE 2-U.S. FHA to tap $1.7 billion in taxpayer funds
Sat Sep 28, 2013 1:31am IST
Reuters
FHA needs cash to maintain required capital cushion
Shortfall stems from loans backed from 2007 to 2009
Republicans: FHA was irresponsible in propping up market
White House predicted $943 million draw in April
Obama administration officials see finances improving
By Margaret Chadbourn

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