Republican leaders on the House Financial Services Committee are calling for hearings on the financial health of the ailing Federal Housing Administration (FHA) reserve fund, which recently reported a sharp drop in its capital ratio to 0.57%. Citing FHA's deteriorating financial position, Reps.

Spencer Bachus (Ala.) and Shelley Capito (W. Va.) are urging committee chairman Barney Frank, D-Mass., to schedule a hearing as soon as possible.

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