FHA Loans Looking Eerily Similar to Their Subprime Predecessor

"I've recently had several first-time homebuyer FHA loans come across my desk and I'm a bit unsettled by what I'm looking at. There really is no difference between the highly destructive subprime mortgages of the 2004-2007 period and today's FHA mortgages. I fully expect these loans to blow up in 2012-2014 almost as spectacularly as the subprime loans did starting in 2007."