The FHA critics I suspect are thinking I told you so with Friday's announcement that the FHA “reserves” have fallen below 2%. But they would be wise to consider the following episode. The story is legend among the HUD career staff: many, many years ago, an unnamed HUD Secretary upon learning...
Congress went back for a second helping Thursday afternoon. After passing, 239 to 188, a bill sponsored by Rep. Maxine Waters (D-CA) that would allot $15 billion in loans and grants to states to buy up and rehabilitate foreclosed properties the whole House took on and passed a second, broader, piece...
The House Financial Services Committee began two days of hearings Wednesday on the economic, mortgage, and housing rescue plan announced last week by Committee Chairman Barney Frank. The two day hearing, on April 9 and 10 will include testimony from federal regulators, academics, economists, and representatives...
The U.S. Federal Housing Administration has raised its maximum insurable mortgage limits by 7.8 percent for 2004. The limits vary regionally according to housing cost. High limit areas such as much of California, qualify for insurance up to $312,895 while areas with lower costs are eligible for limits...