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FHA-Backed Loans: The New Subprime

November 24th, 2008 · Permalink



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.

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Tags: banking