report said the agency "is responsible for guaranteed loans, a very serious breach of contract, to control risk, had to continuously improve the homeowners insurance is used to increase cash reserves. "The report is expected this year, prices will fall 5.6 percent before they hit bottom.
across the country, the Price Quotes
U.S. Federal Housing Finance Agency on the 15th, the annual financial audit report, as of the end of September, the agency's cash reserves of only $ 2.6 billion, down 45 percent compared with last year at the historical low of $ 4.7 billion cash reserves dropped to very low levels, is likely to run out of money next year and seek a taxpayer bailout World Pipe network informed.
the past four years, private banks have been gradually withdrawn from the mortgage market, the market share with increased commitment by the Federal Housing Finance Agency. Last year, the agency assumed the share of the U.S. housing market, all mortgage-backed 30% share of only 5% in 2006. Federal Housing Finance Agency does not loans, but to assume the mortgage of the bank guarantee for breach of contract matters.
U World Steel Pipe News .S. Federal Housing Finance Agency, said the housing loan defaults the growing phenomenon of house prices continued to fall, serious impact on the cash reserves of the Federal Housing Finance Agency, the U.S. government plan will pay the additional cost and effort to save the housing market.
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