FHA’s $16.3B deficit raises specter of taxpayer bailout

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A fund used to support the Federal Housing Administration’s single-family mortgage and reverse mortgage insurance programs ended fiscal year 2012 with a $16.3 billion deficit, according to an annual report submitted to Congress today.

The shortfall raises the specter that the agency will require a taxpayer bailout next year for the first time in its 78-year history.

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