Buried in Fine Print: $57B Loans Big Banks May Have to Eat

The nation’s four largest banks are holding $57 billion of seriously delinquent loans that they’ve been slow to move into foreclosure over concerns that the Federal Housing Administration will refuse to cover the losses and hit them with damages.

Article source: http://www.nationalmortgagenews.com/features/Big-Banks-Downplay-Risks-Delinquent-FHA-Loans-1039288-1.html

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