WASHINGTON — House Republicans continued their assault on the struggling Federal Housing Administration Tuesday, taking the FHA chief to task for a projected shortfall in the agency's finances and warning it could be the next bailout candidate if nothing more is done.

Led by Rep. Jeb Hensarling, R-Texas, members of the House Financial Services Committee grilled FHA Commissioner Carol Galante for three hours Wednesday, focusing primarily on a recent independent audit that raised concerns that the agency may have to borrow money from the Treasury Department for the first time in its 78-year history.

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