David Stevens the boss at FHA made some comments today that caught my eye.
The full story here. Some highlights:
On the status of the US mortgage market: “This is a market purely on life
support, sustained by the federal government.”
FHA is now doing more business than both Fannie and Freddie. The reason is
FHA is still offering 3.5% down payment mortgages. Mr. Stevens thoughts on
this:
“Having FHA do this much volume is a sign of a very sick system.”
On the status of FHA’s “book”: "FHA has been
