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The Next Taxpayer Bailout: The Federal Housing Administration

EyeOpine Wrote: Dec 26, 2012 12:48 PM
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The Federal Housing Administration (FHA), hit hard by the collapse of the housing bubble, is still making risky loans on the taxpayers' dime, and may need a bailout in 2013.

An exhaustive study of the subject by the American Enterprise Institute's Edward Pinto reveals some shocking statistics:

An estimated 40 percent of the FHA’s business consists of loans with either one or two subprime attributes—a FICO score below 660 or a debt ratio greater than or equal to 50 percent (based on loans insured during FY 2012). The FHA’s underwriting policies encourage low- and moderate-income...