“The Federal Housing Administration has exhausted its reserves, forcing it to institute another round of measures to shore up its finances.  The government agency’s capital cushion plummeted to -$16.3 billion at the end of fiscal 2012, according to a study prepared annually by an independent actuary. FHA is scheduled to present the assessment, along with its annual report to Congress, on Friday.  HUD is expected to announce Friday a series of changes designed to improve the agency’s financial position.”

http://money.cnn.com/2012/11/16/news/economy/fha-bailout/

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