Buried in last week's convention hoopla was a provocative proposal by President Clinton that would dramatically expand the reach of the Department of Housing and Urban Development's FHA program.

The plan, which would raise an additional $200 million in insurance premiums over six years, has already drawn fire from private mortgage insurers. It is also opposed by Congressional Republicans who want to scale back the FHA program. But mortgage bankers, who make most FHA loans, love it.

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