[ Ed Pinto, resident fellow at the American Enterprise Institute, is one of the foremost authorities on Freddie Mac, Fannie Mae and the FHA. He believes FHA has done great damage by making housing loans available to people who cannot afford them. I think you will find his recent Blog post on FHA provocative. ]
The National Association of Realtors (NAR) is at it again. Not being satisfied with the FHA’s decades-long lending nightmare that resulted in an estimated 3.2 million dashed homeowner dreams since 1975, it is launching a new ad campaign entitled “FHA Facts”. Their “facts” are cold comfort to the half million working-class families getting loans from the FHA since 2008 who will lose their homes to foreclosure. These families will lose a sizable portion of their savings and see their credit ruined because the FHA set them up to fail.