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FHA Looking for a Bailout
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Description
FBN’s Peter Barnes on the possibility that the housing administration may need $100 billion.
- Duration 1:31
- Date Dec 1, 2011
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Transcript
This transcript is automatically generated
-- running dangerously low on cash -- could soon need a taxpayer funded bailout -- bonds joins us now.
How much money we're talking about if there is indeed -- -- -- Well Stewart private analysts at the American Enterprise Institute estimate that a bailout could range from fifty billion -- One hundred billion dollars and here's why the FHA has a trillion dollar portfolio what is required by law to maintain a capital reserve ratio -- capital question.
Up 2% of its portfolio that would be twenty billion dollars but just last month.
The FHA reported that its net worth this critical reserve had fallen to two point six billion.
-- down from four point seven billion.
The year before Stewart so.
Significant bailout probably on the way can we sum it up like that.
Well they housing.
Secretary Shaun Donovan is saying that changes that the FHA higher mortgage insurance premiums reforms and other things will bring enough cash to turn all that surround by 2014 but he does acknowledge.
That continuing falling housing prices a substantial worsening.
Quote could create a situation in which future net losses could exceed current capital resources so.
It depends on where you see the housing market going -- that point just unbelievable how many times we use the expression bailouts and debts and chronic debt and crisis in so many areas.
About financial -- -- -- bonds thank you very much indeed.
