FHA challenged on projected risk to taxpayers

The Washington Post: The Federal Housing Administration will need taxpayer money because it failed to properly project how borrowers with FHA-backed loans are affected by job losses and diminished equity in their homes, New York University professor Andrew Caplin told a House panel Thursday.

The agency, which insures lenders against defaults, has nearly depleted the cash it must set aside to deal with unexpected losses. But a recent audit of FHA's finances concluded that the agency will not need taxpayer money except in two catastrophic scenarios. Read Article

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