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Watchdog Report, Classifies FHA as, “High Risk”

The Government Accountability Office is saying there is need for actions beyond what has already happened to restore FHA's financial soundness.

When I read this report, what immediately struck me was that there has been no bailout of any kind. They still have a boatload of money in reserve.

OK, so where were the watchdog groups, prior to a nearly $180 billion  bailout of Fannie Mae and Freddie Mac? When Barney Frank stated, there are no issues with Fannie/Freddie, what was he talking about?

Also, why aren’t VA & USDA considered high risk? No down payments are required for either loan products? If any of this makes any sense, well it sure does not to me.

Watchdog Report Classifies FHA as ‘High-Risk Program

By: Tory Barringer

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