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  #1  
Old 09-05-2009, 10:33 AM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is offline
 
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Default FHA Going Broke?

http://www.msnbc.msn.com/id/21134540...98114#32698114

"a ticking time bomb"......

Kudlow on CNBC interviews FHA watcher
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Old 09-05-2009, 11:02 AM
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George Hatch George Hatch is offline
 
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After the fall of Fannie/Freddie, FHA became the default conduit for subprime lending. That's the direction many of the brokers went when the HVCC stripped them of their control of the appraisals.

I think we've already proven the fallacy of "too big to fail". There will be another bailout because, even more so than with the GSEs, the government really does have to bankroll FHAs losses.

FHAs current problems are bad for the nation as a whole, but ironically they will probably end up being good for us. FHA will have to revamp their due diligence protocols and collateral valuation is where it's at when you have ultrahigh LTV programs.
  #3  
Old 09-05-2009, 12:31 PM
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Michael Tipton Michael Tipton is offline
 
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The question is how long will the political appointees wait before they address this issue?
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Old 09-05-2009, 12:54 PM
Offshore Offshore is offline
 
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Since they have a huge stake it what goes on, at some point the Chi Com's politburo will step in and say enough is enough. Imagine that, our economy may be saved from the corrupt, inept socialists by frugal, prudent Maoists.
  #5  
Old 09-05-2009, 03:56 PM
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OSU Beavers OSU Beavers is online now
 
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Does HUD still not prorate P&I for the month you payoff your FHA loan for a new conventional refi? That was a shocker for me ten years ago.
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  #6  
Old 09-06-2009, 07:40 AM
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Mike Garrett, RAA Mike Garrett, RAA is offline
 
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What government program isn't broke?
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