Posted on 09/06/2009 12:09:18 PM PDT by fiscon1
Investor's Business Daily has an article that will raise some eyebrows for the mortgage market.
Skyrocketing growth in loans from the Federal Housing Administration and Ginnie Mae have helped support the mortgage market — but could leave taxpayers on the hook for massive new losses.
FHA-insured loans have more than tripled from 530,000 in fiscal year 2007 to 1.7 million thus far in 2009. The Government National Mortgage Association, which securitizes FHA loans, has boosted its mortgage-related issuance to $287 billion from $85 billion.
(Excerpt) Read more at theeprovocateur.blogspot.com ...
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