The Congressional Budget Office (CBO) has issued a warning about potential financial losses for the Federal Housing Administration (FHA) in 2024, which could amount to billions of dollars. This forecast comes amidst concerns surrounding the looming possibility of budget sequestration due to delays in Congress. The FHA plays a crucial role in providing mortgage insurance to millions of Americans and any financial setbacks could have far-reaching implications for the housing market and the economy as a whole.
Key points from the text:
– The CBO has raised concerns over potential financial losses for the FHA in 2024.
– The losses are estimated to be in the billions of dollars.
– The FHA’s role in providing mortgage insurance is vital for millions of Americans.
– Stalling in Congress could lead to budget sequestration.
– Sequestration would have significant effects on the housing market and the wider economy.
You can read this full article at: https://www.housingwire.com/articles/cbo-projects-fha-to-lose-7-billion-in-2024-receipts-budget-cuts-could-impact-reverse-mortgages/(subscription required)
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