Monday, May 24, 2010

FHA Volume Sign of ‘Very Sick System’; Fannie, Freddie, FHA Account for 90% of Mortgage Market

The US mortgage market is extremely sick and getting sicker every month. For the first time ever, the FHA is issuing more mortgages than Fannie and Freddie. The reason is the FHA has lower down payments.

Please consider FHA Home-Financing Volume Sign of ‘Very Sick System’. http://www.businessweek.com/news/2010-0 ... ate2-.html

FHA lending last quarter may have topped the combined volume of government-supported Fannie Mae and Freddie Mac in a home-lending market that’s still a “government-financed market,â€