by Calculated Risk on 7/16/2010 11:32:00 AM

The following graph from the BofA Second Quarter 2010 Earnings Presentation says more about the FHA than BofA (ht Brian):

Click on graph for larger image in new window.

For BofA, the 30+ day deliquency trends continue to improve.

That red line at the top that is still increasing? That includes FHA insured residential mortgages ...

Notice how the risk has been shifted to the FHA.