Subprime 2.0: Gov't Does It Again

Investor's Business Daily
October 2013
Investors Business Daily;10/22/2013, pA12
The article reports that several U.S. banks are stuck with the raft of seriously delinquent mortgage loans out of fear that the Federal Housing Administration (FHA) won't cover the losses and hit them with damages if they foreclose on rebound borrowers. The Department of Housing & Urban Development, which regulates the FHA, has already forced the big four banks to pay billions on FHA loans that defaulted.


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