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The FHA will raise annual premiums by 10 bps, sell 10K delinquent loans/quarter, and boost...

The FHA will raise annual premiums by 10 bps, sell 10K delinquent loans/quarter, and boost relief for homeowners, says HUD Secretary Shaun Donovan, as the agency looks at $46.7B in losses with reserves of just $30.4B. Providing 97% LTV financing to sub-prime credit in the middle of the housing bust - who could have predicted this?
Comments (2)
  • WMARKW
    , contributor
    Comments (10252) | Send Message
     
    They didn't just provide it "in the middle" of the housing bust. They continued to provide extremely low down financing as the housing prices were declining in 2010 and 2011. They were total fools. No one in their right mind would lend to a buyer with 3% down when the market was declining 10 - 15% a year. The result is automatic underwater loans. What complete fools.
    16 Nov 2012, 10:45 AM Reply Like
  • warrd 008
    , contributor
    Comments (15) | Send Message
     
    fools indeed ...better labeled for what they really are; wealth re-distributing socialists !
    16 Nov 2012, 10:50 AM Reply Like
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