It is also considering cutting the risk it takes in the program, he said. Now Quicken, the largest FHA lender, is looking at bowing out as well, company founder and Chairman Dan Gilbert told Reuters. The three major banks, not satisfied with the way the FHA resolved their complaints, have scaled back their lending through the program. Quicken along with JPMorgan Chase & Co, Bank of America Corp and Wells Fargo & Co - all of the top four mortgage lenders in the United States – are tussling with the FHA over how the agency deals with loans that sour. Officials at the FHA said they are not alarmed by that risk. Federal Housing Administration program, which helps first-time homebuyers, could translate into big losses for taxpayers during the next housing downturn, analysts said. The departure of the biggest lenders from the U.S. ![]() An empty mail box is seen at the front door of a foreclosed house in Miami Gardens, Florida in this Septemfile photo.
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