Toll Calls FHA Lending “Train Wreck”

Robert Toll, CEO of Toll Brothers home builders calls FHA lending a “train wreck”. He said that it will soon take the place of the subprime mortgage crisis.  He anticipates FHA will soon be clamoring for it’s own bailout.  FHA officials denied this.

The FHA’s insurance reserve ratio fell to 0.53 percent, the lowest level in history, and more steps are needed to shore up the agency that guarantees one of every five single family loans, Housing and Urban Development Secretary Shaun Donovan said Nov. 12.

Read more here and here.


About rereno

Real estate investor
This entry was posted in Uncategorized and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s