House Members Seek FHA Financial Documentation in Letter to HUD's Donovan

Apparently fearful of another bail out, six Republican members of the House Financial Services Committee sent a letter to the Obama Administration today asking for documents and information about the finances of the Federal Housing Administration (FHA) . The letter was sent to Housing and Urban Development (HUD) Secretary Shaun Donovan. An independent audit last month showed the FHA was facing a projected $16.3 billion deficit, suggesting it may need use an existing credit line with the U.S. Treasury...

Refinance Volume Expected To Fall 26% in 2013: Fannie Mae

Fannie Mae has declared that housing is finally providing a tailwind to economic growth . The company's December Economic and Strategic Report says that the market "has turned the corner and a sustained recovery is under way ." It contributed, albeit in a small way, to economic growth in past few quarters and will be counted as a contributor on an annual basis for the first time since 2005. "With data pointing to soft economic conditions and the fiscal policy debate hanging in the balance, we expect...

• Mortgage Rates Rise To Multi-Month Highs On Fiscal Cliff Optimism
• MBA Assembles Task Force to Plan Future of Secondary Mortgage Market
• MBS RECAP: Ugly Day For Bond Markets, Cliff-Diving
• US Bank Comp Plan Turning Heads; Jumbo Rates Improving on a Relative Basis
• Home Builders Report Best Sales Conditions in Five Years
• MBS MID-DAY: Languishing Near Multi-Month Lows

Micro News

Around the Web

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• More Toxic "Safe" Mortgages, Coming Soon From A Bank Near You
• Guide Bulletin 2012-29 Provides Special Guidance for Hurricane Sandy Relief
• National Credit Default Rates Ticked Up in November 2012 According to the S&P/Experian Consumer Credit Default Indices
• Analytics in Banking: What Will 2013 Hold?
• Banks Get Lawsuit Shield in Mortgage Rules

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Today's Comments

	"Think about what he said: "that we knew the borrower could not pay." The operative word is KNEW. Did they know without a doubt that any given..."
	"Hi, if Countrywide was such a world class company, then why did they hurt borrowers with horrible mortgages? Aren't /weren't they smart enough..."
	"This disparate impact stuff is gonna be the death of me! It's not a charge based on whether they’re married or not – the problem is when they’re not..."

Today's Q&A