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Even Robert Toll Says fha = subprime

Started by Riversider
about 16 years ago
Posts: 13572
Member since: Apr 2009
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By John Gittelsohn Nov. 18 (Bloomberg) -- The Federal Housing Administration, the agency that insures home purchases made with down payments as small as 3.5 percent, may create another lending crisis, Toll Brothers Inc. Chief Executive Officer Robert Toll said. “Yesterday’s subprime is today’s FHA,” Toll said today at a New York conference for builders sponsored by UBS AG. “It’s a definite train wreck and the flag will go up in the next couple of months: Bail us out. Give us more money.” Toll Brothers is largest U.S. luxury homes builder.
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