Did the US make FHA into a new Countrywide at taxpayers expense?

By golfplan18   follow   Sat, 9 Feb 2013, 11:42pm PST   ↑ Like (2)   ↓ Dislike   189 views   0 comments   Watch (0)   Share   Quote  

http://ochousingnews.com/news/did-the-us-make-fha-into-a-new-countrywide-at-taxpayers-expense?source=Patrick.net

I was very hesitant posting a press release from a political office as this FHA problem was caused by banksters and politicians. However, the press release had some very good descriptions on what happened to FHA in the past 6 years. In a nutshell, some of the functions of the subprime private mortgage insurance industry were taken over by the FHA. That’s explains the reference to Countrywide Mortgage by Chairman Hensarling.

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