The real facts about the FHA
Edward J. Pinto | AEIdeas
February 13, 2013

Reuters

A sign announces an open house for a home for sale in Silver Spring, Maryland, May 23, 2010.

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Article Highlights

  • The FHA's risky lending practices will result in a half-million new foreclosures among the 4 million loans insured since 2008.

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  • FHA is the government's subprime lender.

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  • We can strengthen homeowner opportunity and our national economy by fixing FHA's abusive practices.

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Tomorrow, the National Association of Realtors (NAR) will be running its second ad presenting what it calls facts about FHA. Not being satisfied with the FHA’s decades-long lending nightmare that has resulted in an estimated 3.2 million dashed homeowner dreams since 1975, it is launching a new ad campaign entitled “FHA Facts”.

Click here to see the new FHA ad

NAR says its one million members “oppose any changes to FHA that will cause a disruption to the housing sector…” and now is not the time for reform. They’ve said that for over 60 years. FHA’s decades long history of hurting working-class families and communities must end. It is time to give 315 million Americans an FHA they can be proud of. Get the real facts about FHA’s failures.

Click here to see what FHA isn’t telling you

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About the Author

 

Edward J.
Pinto
  • An executive vice president and chief credit officer for Fannie Mae until the late 1980s, Edward Pinto has done groundbreaking research on the role of government housing policies in the lead-up to the financial crisis. In particular, his data have revealed striking facts about the contributions of housing policy to the mortgage crisis. Two of his major research papers have been submitted to the Financial Crisis Inquiry Commission: "Government Housing Policies in the Lead-up to the Financial Crisis: A Forensic Study" and "Triggers of the Financial Crisis." At AEI Mr. Pinto is continuing his work on the role of housing policies in the financial crisis and researching policy considerations and options for rebuilding our housing-finance sector.
  • Phone: 240-423-2848
    Email: edward.pinto@aei.org

  • Assistant Info

    Name: Emily Rapp
    Phone: 202-419-5212
    Email: emily.rapp@aei.org
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