21
Nov
FHA-Backed Loans: The New Subprime
Filed Under (Finance) by admin on 21-11-2008
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.
