FHA Watch, June 2013 (Vol. 2, No. 6)

Article Highlights

  • Loose lending practices must be stopped to avoid Subprime 2.0.

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  • FHA stress test losses may have hit $115 billion.

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  • The nightmare at FHA continues.

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Explore the Nightmare at FHA Project.

This Issue’s Highlight

Subprime 2.0: The Affordable Housing Nightmare Continues

At the Bipartisan Policy Center’s recent conference entitled “Housing Finance Reform: Is Inertia Gaining Momentum?” representatives of the Government Mortgage Complex called for a repeat of the failed government “affordable housing” experiment begun in the early 1990s. America’s homeowners ultimately lost trillions in this failed government “affordable housing” experiment. Loose lending was the tool used to drive the homeownership rate and home prices to unsustainable levels.

This Month’s Features

Subprime 2.0: The Affordable Housing Nightmare Continues
Calls for Unsustainable Lending Mount

Spotlight on Insolvency
FHA’s Estimated GAAP Net Worth Equals –$27.22 Billion, with a Capital Shortfall of $47–67 Billion

Spotlight on Delinquency
Overall Rate Declines to 14.46 Percent

Spotlight on Best Price Execution
FHA, VA, and USDA’s Pricing Dominance Increase

Spotlight on FHA’s Mission Misfires
Stress Testing: What’s Good for the Goose Is Good for the Gander

End the Nightmare at FHA
Common-Sense Reform of the FHA Is Urgently Needed

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Edward J.
Pinto

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