``A new study conducted by the George Washington University School of Business (GWSB) has found that the Federal Housing Administration (FHA) is at risk and needs to rethink layering risk-- especially to borrowers with poor credit history and high payment burdens... "We have found that down payment alone is not the leading cause of default; nor are low down payment loans much riskier than other loans. However, a number of factors working together--poor credit score, a high ratio of debt-to-income and other variables, such as seller-funded assistance--can create a recipe for disaster."'' -- NO SH*T!!!

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