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Policy: Budgets & Deficits

Housing Wire: FHA bailout pushes federal deficit to $22b

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(www.housingwire.com) With the Federal Housing Administration drawing $1.7 billion from the Treasury into its Mutual Mortgage Insurance fund for the first time in FHA history, the balance of the fund ended up costing the federal government a hefty sum. For the 2013 fiscal year, an increase in the estimated balance of the MMI fund raised federal spending and the deficit by $22.4 billion due struggles within the single-family mortgage guarantee and Home Equity Conversion Mortgage (HECM) programs, the Congressional Budget Office said. "Because the transfer is . . .

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