http://www.washingtonpost.com/business/economy/fha-faces-13-billion-capital-shortfall-audit-finds/2013/12/13/d3588c78-6449-11e3-91b3-f2bb96304e34_story.html?tid=hpModule_a2e19bf4-86a3-11e2-9d71-f0feafdd1394
The Federal Housing Administration, which recently received an
infusion of funds from the Treasury to cover projected losses, still
faces a $1.3 billion capital shortfall, an independent audit released
Friday found.
FHA Commissioner Carol Galante declined to comment at a briefing for
reporters on whether the agency might need a second straight taxpayer
subsidy. The government mortgage insurer received a $1.7 billion
infusion from Treasury in September, the first time it has needed aid in
its 79-year history.
The FHA is legally required to maintain a 2 percent capital ratio,
which is a measure of its ability to withstand losses. It has not met
that mark since 2009, but the audit said it would in the 2015 fiscal
year, sooner than was estimated last year.
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