FHA Delinquencies Surge To Record Levels In 3rd Quarter 2012



For the first 20 years of it’s existence the Federal Housing Administration, created in 1934, enjoyed a delinquency rate of 0.2%. As of September 2012, the delinquency rate has surged to a record 17.3%. Compare that to less than 2% for privately insured mortgage company, MGIC.

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