Daily Real Estate News  |  November 9, 2009  |   FHA Audit Delay Stokes Anxiety
The FHA has delaying issuing an audit of its capital reserves, but observers anticipate a report indicating that the agency's reserves have fallen under 2 percent.

Mortgage bankers are worried that the FHA, in an attempt to quickly generate cash for one of its reserve funds, will boost the premiums paid by borrowers and hike their closing costs as a result. Experts say raising premiums would put a damper on the housing market.

Source: American Banker, Paul Muolo (11/09/09)

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