The Dog Ate The FHA’s Auditing Report On The Day It Was Due…Dang, Hate When That Happens! - By

What You Should Know / November 5, 2009

The Dog Ate The FHA’s Auditing Report On The Day It Was Due…Dang, Hate When That Happens!

www.dailyfinance.com -- On Wednesday, the Federal Housing Administration was supposed to release its independent audit determining the soundness of the agency. Many have questioned that soundness because, as of Oct. 1, its reserve fund dipped below the required 2 percent of the agency's outstanding loans for the first time in its history. On Tuesday night, the agency abruptly canceled the release of that audit report, citing problems with the risk scenarios, according to The Washington Post.