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Federal Housing Administration
Latest Federal Housing Administration Items
Americans have lost more than $4 trillion in assets since the housing market collapsed in 2006. Risky government mortgage lending regulations helped inflate prices beyond reason, but those policies have not gone away. Instead, they've just moved into a new home, the Federal Housing Administration (FHA). Unless Congress acts to renovate eligibility requirements for borrowers, we could see an even worse financial disaster unfold.
A lobbyist known as one of California's most successful power brokers while serving as a legislative leader in that state paid Rep. Maxine Waters' husband $15,000 in consulting fees at a time she was co-sponsoring legislation that would help save the real-estate finance business of one of the lobbyist's best-paying clients, records show.
Taxpayers and the federal government would be among the biggest losers if officials heed calls from some legislators and homeowners rights groups to stop millions of foreclosures across the country because of possible paperwork problems.
With the ink of President Obama's signature on the Barney Frank-Chris Dodd financial reform bill barely dry, the next bank bailout already has begun. How can that be, you might ask? Weren't we promised that this "landmark" legislation would end bank bailouts? Weren't we promised that this legislation ushered in a new era of transparency on Wall Street? Could it be that the politicians lied to us? Say it ain't so - but it is.
Higher monthly fees are coming for consumers who take out home loans guaranteed by the Federal Housing Administration, the primary source of mortgages for first-time homebuyers.
Homebuyers in today's market are sometimes stumped when they see the potential in a home for sale but do not have the funds available for a down payment, closing costs and remodeling expenses. Homeowners sometimes find themselves in a similar bind: Home equity loans are difficult to obtain, so owners need to find other ways to fund home repairs and improvements.
A report Wednesday that new home sales plummeted to a record low after the federal housing tax credit expired added to worries that the broader economy could relapse after a spurt of growth in the last year.
House Democrats bring to the floor today a plan to stanch the home foreclosure crisis with measures that include government-backed mortgage refinancing and money for states to buy derelict homes, but Republicans say the $2.7 billion bill is nothing more than a "bailout scheme."
I want to describe a refinance my company recently made for a customer in South Carolina.