Municipal bondholders have complained about early redemption of their Federal Housing Administration-backed investments, but they, like the rest of the economy, are simply victims of the national real estate depression, according to real estate and federal agency sources.

And well-protected victims at that.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.