FHA Faces Shortfall From Mortgage Losses

by Ailsa Chang, NPR

The next victim of the foreclosure crisis could be the Federal Housing Administration. The agency is on the verge of burning through its cash reserves and will eventually ask for taxpayer assistance, according to Rep. Spencer Bachus, chairman of the House Financial Services Committee. The FHA insures many of the nation's low-down-payment mortgages.

Broadcast Dates

• Morning Edition, November 16, 2012