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Volume 2 - Number 24

November 20, 2009

FHA Fund Will Recover Losses, Audit Says

The FHA’s reserve fund sustained heavy losses this year due to deteriorating loan quality in its older vintages, but the third-party audit of the program’s financial condition said the capital levels should return to sufficient levels in a few years. Obama administration officials used the audit as support for staying the course, but some industry participants are pointing to holes in the...

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