The answer is difficult to pinpoint, but there are some striking examples. For instance, Congress learned of one possibility for the Federal Housing Administration, which insures about a third of U.S. mortgages. A 2012 audit showed that the FHA could lose $65 billion in a worst-case economic scenario. Beyond that:
The Federal Housing Administration may have tried to hide the magnitude of losses it could face under the most severe economic shock, according to a congressional committee.
The House Committee on Oversight and Government Reform found the audit excluded results that showed the FHA’s traditional mortgage program would be $115 billion in the red under the worst economic assumptions. - Reuters, June 4, 2013
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