Taxpayers are finding that there may be a bill to pay one day for the government’s role in backing low down payment mortgages, even as Congress appears ready to double down on the agency backstopping those loans.This can't possibly go wrong!
On Tuesday, the Federal Housing Administration is set to report annual finances showing that the agency barely has enough cash to cover anticipated losses. Meanwhile, Congress looks poised to take steps that will increase FHA’s role in the housing market.
Tuesday, November 15, 2011
Politicians are as reckless with money as Wall Street bankers
Congress wants to give a near-bankrupt agency a larger role in the housing market: