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Loan Modification

: Mortgage Lender Implode-o-Meter

Federal Housing Administration leader David Stevens will leave post

By Implode-Explode Heavy Industries

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"By the time Stevens joined the FHA, the housing market had tanked, mortgage credit had virtually dried up and borrowers rediscovered the agency's government-backed loans. But as the FHA's popularity soared, its default rates climbed and its cash reserves eroded to dangerously low levels."

Full post as published by Mortgage Lender Implode-o-Meter on March 11, 2011 (boomark / email).

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