FHA-Backed Loans: The New Subprime (BusinessWeek Online)

[riky]

FHA-Backed Loans: The New Subprime
    (BusinessWeek Online)

 

BusinessWeek Online - As if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers -- many of them the very sorts of firms that helped create the current financial crisis -- are going strong. Their new strategy: taking advantage of a long-standing federal program designed to encourage homeownership by insuring mortgages for buyers of modest means.


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