Liberally prudent or imprudently liberal? Part 2, how we’ll get out of it
By: David A. Smith
[Continued from yesterday's Part 1].
Yesterday’s post dismantled a slightly fear-mongering Wall Street Journal suggesting that FHA’s net worth would fall below the statutorily mandated 2%, and if so, that FHA would need a ‘bailout.’ In fact it does seem that FHA’s portfolio is under stress, with delinquencies up from 5.4% to 7.8%, [...]