WASHINGTON -- The Federal Housing Administration, which has played a crucial role in stabilizing the housing market, said it ended September with $16.3 billion in projected losses -- a possible prelude to a taxpayer bailout.
The precarious financial situation could force the FHA, which has been self-funded through mortgage insurance premiums since it was created during the Great Depression, to tap the U.S. Treasury to stay afloat.
The agency said a determination on whether it needs a bailout won't come until next year.
BAILOUT? Federal Housing Athority $16.3 Billion in Red
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