Private Subprime Mortgages Challenged FHA During 2000s Housing Boom
Gerardi, Kristopher S.; Frame, Scott; Sexton, Daniel (2021-05-11)
Considerable research has been devoted to better understanding the meteoric rise of the PLS subprime mortgage market in the early-to-mid 2000s. But an important aspect has been largely ignored: The simultaneous decline in mortgage originations with Federal Housing Administration (FHA) insurance.
Dallas Fed Economics

Journal Article
Housing and the subprime mortgage market
Frame, Scott (2007)
EconSouth , Volume 9 , Issue 3