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Assuming a success rate of 10%, that means only 10 proposals will be funded, down from 40 in 2010 a "ludicrous situation," Besse says.
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Such "seller-funded down payment assistance" loans make up only 4 percent of the F.H.A.'s portfolio but account for 13 percent of its seriously delinquent loans.
Corporate arts funding down.
Still, with choir funding down, it makes things tough.
The August inflow included $3.02 billion in domestic short-term funds, down from $4.48 billion in July.
Only one in 10 are paying into a pension fund, down from four in 10 a decade ago.
Performance has been poor lately, with the average fund down 1.5% over the past year.
A failed project will not bring the pension funds down with it.However, the plan does raise some further questions.
"Other guys who are only looking at dollars and cents would have shut the fund down," he said.
Mr. Padula's most aggressive portfolio now dedicates only 65percenttoto stock index funds, down from 80 to 90percentt.
Then there's a lot of pocket change, like $30 million for the federal student loan reserve fund, down from $152 million.
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