The Federal Housing Administration (FHA) has suffered from many of the same unrealistic underwriting assumptions that have done in so many lenders during the 2000s. It too was harmed by a housing market as bad as any seen since the Great Depression. As a result, the federal government announced in 2013 that the FHA would require the first bailout in its history. Margaret Chadbourn, U.S. Federal Housing Administration to Tap $1.7 Bln in Taxpayer Funds, Reuters, Sept. 27, 2013, http://reuters.com/article/usa-housingbailout-idUSW1N0G702P20130927. At the same time that it faced these financial challenges, the FHA came under attack for poor execution of some of its policies attempting to expand homeownership opportunities.
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