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Loan Losses Spark Concern Over FHA

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"The Federal Housing Administration, hit by increasing mortgage-related losses, is in danger of seeing its reserves fall below the level demanded by Congress, according to government officials," the Wall Street Journal reported. And what does that mean? ""They're probably going to need a bailout at some point because they're making loans in a riskier environment,"  Edward Pinto, a mortgage-industry consultant and former chief credit officer at Fannie Mae told the Journal, "...I've never seen an entity successfully outrun a situation like this.""

To us, the more important question, however, is why does HUD Secretary Shaun Donovan look exactly like Napoleon Dynamite?

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