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-- Peter Barnes and Washington with the breaking details of that FHA bailout -- error.
Brian Dennis and -- how we might be heading -- -- fact with housing bailouts first Fannie Mae and Freddie Mac which have -- more than a 187 billion dollars.
And the treasury so far now the FHA which insures more than a trillion dollars in mortgages.
Could need help from the treasury as well an annual audit released today.
Found the agency has a sixteen point three billion dollar capital shortfall because of mortgages going bad.
But the FHA is downplaying the possibility it will ask the treasury for taxpayer funding.
It said it expects to add eleven million dollars in new capital from new mortgage insurance business in the year ahead it is also announcing new steps new changes to try to improve its finances and it says it hopes that these will return its capital reserves.
Into the record into the black rather within the year that the agency says should reduce the likelihood that it will need to tap its credit line with the treasury officials say they won't make that announcement until the president releases his twentieth fourteen budget in February -- share.
All right more answers then hopefully Peter Barnes thank you very much.
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