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FHA May Show Negative Reserves for Mortgage Losses

"The Federal Housing Administration (FHA), in a report due out Friday, could disclose that its reserves for future mortgage-insurance claims dipped into negative territory for the first time in almost a quarter of a century.

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The FHA has tried to avert financial disaster by raising mortgage insurance premiums this year, but that may not be enough. The FHA took on a huge segment of the mortgage market when credit crashed, up to 40 percent of new originations in 2010. FHA loans, by definition, are riskier because they only require a 3.5 percent down payment."

http://finance.yahoo.com/news/fha-may-show-negative-reserves...

40 percent of new originations in 2010? That's nuts. I've been reviewing their work. Quite frankly, it stinks. It's almost as if they have no business training at all.
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FHA is still making loans to 500 FICO applicants.
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