In response to:

The Next Taxpayer Bailout: The Federal Housing Administration

SuperSam Wrote: Dec 26, 2012 11:41 AM
Mismanagement from the top; Even though they are trying to prevent foreclosures and push new mortgages it ain't working because of the lack of jobs. We need to dust off Owebummer's JOBS czar, Joke Biden, who thinks JOBS is a 3-letter word. What the hell did you expect with Owebummer and Joke Biden; they're clueless; burning trillions only to obtain a net jobs loss since taking office. Neither had executive experience for the job as Chief Executive, who oversees the world's biggest business engine, while Owebummer never even ran as much as a lemonade stand. Talk about dumb voters - unfriggin real - totally unbelievable.
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...