"It appears, unfortunately, that our own Federal Government may be part of the problem. HUD, Housing and Urban Development, is holding a large number of single-family homes in an area. Failure to properly dispose of this inventory may be contributing to this problem. And in many cases, it appears that FHA is insuring loans that should have never been made, because of their way of doing business and also by the way they set themselves up to be gamed. As a Senator responsible for FHA's budget, I am responsible about the financial impact on the FHA insurance fund"--Page 3.
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