Who knew that when the United States elected Donald Trump as president, we would get Bill Clinton’s mortgage-lending policies?

That is what is starting to happen as the Federal Housing Administration is now (to quote the Wall Street Journal) “vastly expanding the scope of condominium purchases eligible for lower-down-payment loans.” Noting that “FHA-backed loans require only a 3.5% down payment and lower credit score than conventional loans,” the Journal notes that the Trump administration’s decision “also loosens financial-crisis-era rules and could expose the government to a higher likelihood of loan default if the housing market continues to slow and prices fall.”