Concerns are Growing About FHA’s Stability

First it was Fannie Mae and Freddie Mac. Now concern is growing that another government mortgage giant might teeter. A year after Fannie and Freddie were effectively nationalized, problems at the Federal Housing Administration are raising worries among industry executives and Washington policy makers. In testimony before a House subcommittee yesterday, the FHA’s commissioner, David H. Stevens, assured lawmakers that his agency would not need a bailout and that it was taking steps to manage its risks.

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