fha in the wrong century...

I can't believe they didnt' have a risk officer! By Romaine Bostick Sept. 18 (Bloomberg) -- The Federal Housing Administration, responsible for insuring more than 20 percent of the U.S. single-family mortgages made this year, said it’s tightening credit standards and will appoint a chief risk officer. “To be clear, the fund’s reserves are sufficient to cover our future losses, so the FHA will not require taxpayer assistance or new Congressional action,” Commissioner David H. Stevens said in a statement today. “That said, given the size and scope of the FHA and its importance to today’s market, these risk management and credit policy changes are important steps in strengthening the FHA fund, by ensuring that lenders have proper and sufficient protections.”