FHA is running out of their $4.7 billion reserves – soon they plan to raise insurance premium rates, again (they just did so in the past few months) – FHA backs $1 Trillion in mortgages and almost 10% are behind on payments. (Who knows what the normal % is..)
Will this mean a relative slowdown in FHA mortgage lending?
Will the US have enough to back FHA loans?
Will President Obama’s refinancing plans of having the FHA back millions of loans backfire on taxpayers?
Source: http://online.wsj.com/article/SB10001424052970204795304577221222265037002.html
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