US banks could face new source of mortgage losses

 

* Federal Housing Authority could deny claims: analyst

* Mortgage insurance agency under pressure from defaults

* Wells Fargo, JPMorgan and Bank of America could be hurt

* House prices could take “another leg down,” says Miller

Oct 3 (Reuters) – A federal housing insurance program may be forced to deny bank claims for money lost in home loan foreclosures, costing them another $13.5 billion in mortgage-related losses, according to a report on Monday from bank analyst Paul Miller of FBR Capital Markets.

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