Throw Tomatoes If You Must – Is FHA the Next Subprime?
Posted on November 4, 2009
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Talk about living beyond your means. Had banks been required to maintain higher loan reserves, similar to the FHA insurance fund, they would have been able to ride out storms. Yet in some instances, banks were lending 20 times more than they had in reserves. Excessive leveraging by banks brought the real estate market to its knees. Now back to today, FHA is again the program of choice for subprime type borrowers but FHA insurance funds have been reported lately as running low. Were any lessons learned?
Source:Throw Tomatoes If You Must – Is FHA the Next Subprime?
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