The Federal Housing Administration is expected to announce that rising mortgage delinquencies could exhaust its reserves, potentially leading the agency to rely on taxpayer funding for the first time ever, the Wall Street Journal reported. Last year, the FHA accounted for one third of home-purchasing loans among owner occupants, the Journal said. By backing mortgages with down payments as low as 3.5 percent, the agency plays a crucial role in supporting the housing market. Private [more]![]()
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