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Economy - Monday (Investor's Business Daily)

This is a discussion on Economy - Monday (Investor's Business Daily) within the Announcements forums, part of the Sikh Business Network category; Investor's Business Daily - Gov't-insured mortgages accounted for more than 29% of all loan applications in July vs. 8.4% a ...

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08-19-2008, 04:33 PM

Gurmastak Singh Gurmastak Singh is offline

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Join Date: Feb 2007

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Economy - Monday (Investor's Business Daily)

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Investor's Business Daily - Gov't-insured mortgages accounted for more than 29% of all loan applications in July vs. 8.4% a year earlier, said the Mortgage Bankers Assoc. The gov't market share hit a low of 5.8% 3 years ago. Demand for home loans backed by Federal Housing Administration has increased as private funding has dried up and the gov't has expanded the FHA's scope. FHA loans are insured by the gov't in the event of default, but the actual mortgages are made by major lenders.

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