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Home / News / FHA, prime mortgage defaults at records on job losses, according to MBA report

FHA, prime mortgage defaults at records on job losses, according to MBA report

Foreclosures on prime mortgages and home loans insured by the Federal Housing Administration rose to three-decade highs in the third quarter, driven by the biggest job losses since the Great Depression. One out of every six FHA mortgages was late by at least one payment and 3.32 percent were in foreclosure, the highest for both since ...