Word: coverer
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...boom - anyone with a pulse qualified for a mortgage. Now the FHA has resumed its old role by propping up the housing market, since private lenders began shunning all but the least-risky loans. The FHA doesn't lend directly but rather entices lenders do so by agreeing to cover any losses. The FHA stood behind fewer than 3% of new mortgages in 2006. In 2009, just three years later, the FHA insured nearly 30% of home purchases and 20% of refinances...
...void left by the private sector, it has assumed the risks of those loans. And now that a growing number of people have stopped paying their mortgages, the FHA has had to pay out more in claims that it forecast. The agency has just $3.6 billion on hand to cover any unexpected losses in its $685 billion portfolio. That paltry level of reserve funding, less than is mandated by the government, has left some members of Congress in a twitchy mood and some onlookers to wonder if the FHA will eventually need a massive infusion of cash. (See high...
...Asaro’s crawling adventure started in January 2008, when she flipped past the flashy cover of the “Guinness World Records” at a bookstore near her home in Seattle, Wash. Intrigued, she entertained the idea of pursuing a record herself...
...Asaro’s motivation for these projects comes from innovative humanitarian enterprises that she reads about online. This summer, she started collecting these ideas in a journal. Inside the front cover, she has inscribed her guiding mantra: “What would you do if you knew you could not fail...
...strings-attached hook ups is that sometimes people forget to take all the strings off. Shouldn’t we get to know each other before we start getting to know each other? Maybe, before leaping into bed, everyone should sit down and fill out comprehensive forms that cover our opinions on politics, philosophy, free-range chicken, and that one episode of Sex and the City where Samantha confronts those transvestites. By the time we finish the form, we will have a) found true love, b) passed out from boredom, or c) sobered up enough to realize how odd-looking...