FHA – Could it be here we go again?

Well, we will have to see how this one plays out. 

Congress Worries FHA Could Be ‘Fannie, Freddie, the Sequel’

Housing and Urban Development Secretary Shaun Donovan’s appearance before the House Financial Services Committee on Thursday came after an independent audit warned last month that the agency could soon run out of money and require a taxpayer bailout.

Mr. Donovan said the agency’s finances are of concern, but highlighted the study’s finding that the agency’s reserves are likely to recover and reach the 2% threshold in 2014, earlier than projected a year ago.

 

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