WASHINGTON (Reuters) - The Federal Housing Administration faces "considerable risks" to its finances and the Obama administration will continue to scale back the agency's presence in the mortgage market, the top U.S. housing official said on Tuesday.Full story
The Federal Housing Administration could run out of money over the next year and require a $700 million cash infusion from the Treasury Department to stay afloat, according to the Obama administration's budget request sent Monday to Congress. Full story
CNBC's Diana Olick has the details on the Federal Housing Administration getting $1 billion from the AG and Countrywide settlement.
