House to Consider Bill to Raise FHA Premiums

A bill to help the Federal Housing Administration shore up its finances is set for a vote this week in the U.S. House of Representatives.

Mortgage defaults have eaten through the FHA's capital cushion, fanning fears the agency will require a taxpayer bailout.

The legislation's aim, its sponsors say, is to help the FHA replenish its reserves without harming the agency's mission of backing low down payment loans for low- and moderate-income borrowers.

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