Audit: Taxpayer bailout possible after FHA reserves plunge
Cash reserves maintained by the Federal Housing Administration are substantially less than the level required by law, an independent audit found. In the worst-case scenario, the agency's reserves could be wiped out, forcing a taxpayer bailout to cover its obligations, according to the audit by Integrated Financial Engineering.
NYTimes.com
| 11/12
This story published in SIFMA SmartBrief on 11/13/2009
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