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Housing Agency Reports Record Financial Cushion as It Braces for Market Downturn

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wsj.com

WASHINGTON—A federal housing agency on Tuesday said its financial reserves have reached record levels and that it was well positioned to weather a mortgage-market downturn.The audit, released by the Federal Housing Administration on Tuesday, likely gives officials room to trim mortgage costs over the coming months as part of a push by the administration to address housing affordability.

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