FHA Delays Audit, Yet Another Bailout Coming Your Way
{ Posted on Nov 04 2009 by Wall Street Journal }
Two House Republicans warned that growing losses at the Federal Housing Administration could lead to a taxpayer-funded bailout and have asked the Department of Housing and Urban Development for data backing up the FHA’s assertion that it won’t need to ask Congress for any taxpayer money.
“Congress and HUD must take whatever steps are necessary to ensure that this program operates in a manner that does not expose the taxpayer to yet another bailout,” wrote Republicans Darrell Issa of California and Spencer Bachus of Alabama in a letter, dated Monday, to HUD Secretary Shaun Donovan.
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See Also:
- Edward Pinto: Ending The FHA’s Continuing Nightmare Of Foreclosures
- The FHA Is Doomed: Huge Bailout Coming
- 20 Year Old Buys Home With $183,000 FHA Loan And Just 3.5% Down
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