At this event, AEI’s Edward Pinto will discuss his groundbreaking analysis of 2.4 million loans insured by the Federal Housing Administration (FHA) in 2009–10 that have set working-class families up for financial failure. Among Pinto’s findings was the fact that over 9,000 zip codes have a projected foreclosure rate of 10 percent or more on FHA backed loans. Currently, one in seven working-class families in these neighborhoods stands to lose its home, savings, and credit score to foreclosures fueled by FHA’s reckless lending policies. Pinto and discussants will address a particularly relevant public policy question: what is the acceptable level of foreclosure for loans under the FHA program?
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