When Wall St. stopped buying big shitpile, they stepped in. And guess who will be left
holding the bag...- A year after Fannie and Freddie were effectively nationalized, problems at the Federal Housing Administration are raising worries among industry executives and Washington policy makers.
The issue, which has polarized Congress along party lines, took on new urgency at a House subcommittee hearing on Thursday about the F.H.A., which insures mortgages with low down payments.
In prepared remarks, a former Fannie Mae executive predicted that losses might soon overwhelm the F.H.A, prompting a government bailout.
