The big gains in business volume at the FHA and the Veterans Administration reflect the two agencies’ differing missions, and officials at both organizations are looking at ways to improve risk management practices. Ed Golding, principal deputy assistant secretary at the Department of Housing and Urban Development, said the FHA dominates the market for high loan-to-value lending to borrowers with credit scores below 680. While some view 680 as borderline subprime, it’s the median credit score for the country, he noted during remarks at a symposium sponsored this week by the Urban Institute. “Risk management is...