“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/
Related posts:
ECB corporate debt buys unexpectedly high in first full week
Drones killing innocent Pakistanis, U.N. official says
Uber executives detained by police in Paris
Chicago Grandmother Killed by Police Was 'Being a Good Citizen'
UK government 'mansion tax' proposal will include property over £2m
China's central bank ready to unveil deposit insurance
Italy’s army bringing down the cost of medical marijuana
China Gold-Mine Deals at Record After Price Plunge
Guardian teams up with New York Times over Snowden documents
Bankers balk as Postal Service plans payday loans, digital currency
China’s beverage billionaire Zong Qinghou victim of knife attack
Swiss bankers stay home amid US global tax evasion manhunt
Meet Laxmicoin, the desi bitcoin
Lyxor says it had ‘no choice’ in closure of Greek ETF
Criminalizing Photography