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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: Federal Housing Administration

Federal Housing Administration stories: 23 news summaries

1 - 20 of 23 Stories | 1 2 Next >>

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The Next Mortgage Lender Bailout: The FHA

Critics think fallback agency will need a rescue in next couple of years

Oct 9, 09 8:38 AM CDT
(Newser) - Another mortgage lender specializing in low income borrowers is in trouble: the Federal Housing Administration. The agency which oversees Fannie Mae and Freddie Mac could soon share their fate, as borrowers default on the low-downpayment mortgages it insures, critics told a House subcommittee yesterday. “It appears destined for a... More »

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mortgage • Freddie Mac • Fannie Mae • Federal Housing Administration • mortgage backed securities • mortgage insurance

(Newser) - It’s a tale of two housing markets out there. While low and mid-priced homes are enjoying a resurgence, high-priced residences are languishing unsold, their prices falling rapidly, the Wall Street Journal reports. “We’re extremely oversupplied,” says a real estate agent in an affluent Illinois town,... More »

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real estate • housing market • Federal Housing Administration • real estate values • luxury homes • Timothy Geithner • jumbo mortgages

Borrowers Now Flocking to the Feds to Default on Loans

Same cause of subprime mess blamed for new threats to taxpayers

Mar 8, 09 1:13 PM CDT
(Newser) - History is repeating itself, and taxpayers will be footing the bill for it: Flawed lending practices are enabling borrowers to receive mortgage loans they can’t repay—but this time, Washington’s involved, the Washington Post reports. Many of the loans provided by the Federal Housing Administration default after just... More »

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mortgage • Federal Housing Administration • borrowers • Federal government • taxpayers • predatory lenders

 Feds Outline 
 Fannie, Freddie 
 Bailout 

Gov't will step in as conservator; Treasury will buy preferred stock

Sep 7, 08 11:28 AM CDT
(Newser) - Citing Fannie Mae and Freddie Mac as "critical to turning the corner on housing," Treasury Secretary Henry Paulson this morning announced a bailout of the beleaguered mortgage companies that includes his agency purchasing preferred stock, while the Federal Housing Finance Agency will step in as conservator. Additionally, Treasury... More »

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Ben Bernanke • housing market • mortgage • Freddie Mac • Fannie Mae • Treasury Department • Federal Housing Administration • securities • financial crisis

Mortgage Insurers Feel Pinch, Pull Back on Loans

As more home loans fail, lenders ask more of beleaguered backers

Jul 15, 08 9:51 AM CDT
(Newser) - Mortgage insurers facing mounting defaults are tightening their standards, adding another hurdle for potential homebuyers, the Wall Street Journal reports. Beleaguered and risk-averse banks are making more mortgage applicants apply for insurance, just as insurers are declaring more parts of the country “declining markets.” making insurance harder to... More »

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foreclosure • home loans • Federal Housing Administration • mortgage lender • housing crisis • subprime crisis • mortgage defaults

Senate OKs Foreclosure Relief Bill

House outcome uncertain; Bush will veto unless changed

Jul 11, 08 8:35 PM CDT
(Newser) - By a huge margin, the Senate today passed a $300 billion bill to help homeowners avoid foreclosure—but the White House vows to veto it unless the House makes changes, the AP reports. The bill will let struggling homeowners reinsure at cheaper rates backed by the government, but President President... More »

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Senate • House of Representatives • Federal Housing Administration • Bush veto • subprime crisis • George W. Bush • bill

 Treasury Boss: Worst Is Over 

Paulson says US emerging from storm

May 7, 08 2:45 AM CDT
(Newser) - The US is emerging from the credit woes triggered by the turmoil over subprime mortgages—despite the continuing wave of foreclosures across the nation, according to Treasury Secretary Henry Paulson. Paulson, in the most positive comments yet from the White House on the nation's economic troubles, in part credited the... More »

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Federal Reserve • Henry Paulson • Bear Stearns • foreclosure • Freddie Mac • Fannie Mae • Federal Housing Administration • credit crisis • subprime crisis • financial crisis

 US Must Stop
 Foreclosures,
 Bernanke Warns 

He warns of cascading crisis

May 6, 08 2:35 AM CDT
(Newser) - Federal Reserve Chairman Ben Bernanke yesterday called for government intervention to halt home foreclosures, warning that to do nothing could "destabilize communities, reduce property values of nearby homes, and lower tax revenues." Bernanke said in a speech in New York that a million Americans were already three months... More »

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Ben Bernanke • Federal Reserve • foreclosure • mortgage • House Financial Services Committee • Federal Housing Administration • Columbia Business School • adjustable-rate mortgages

Federal Mortgage Plan Not Helping the Neediest: Critics

Only 2K in danger of foreclosure have been able to take advantage, stats show

Apr 29, 08 4:57 PM CDT
(Newser) - A plan to federally subsidize the refinancing of troubled mortgages has in fact helped relatively few of the most at-risk borrowers, the New York Times reports. Though Bush administration officials said FHA Secure has benefited 150,000, federal statistics show that only 1,729 of those mortgages were delinquent. “... More »

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Bush administration • housing market • foreclosure • Federal Housing Administration • mortgage loans • housing crisis • subprime crisis • FHA Secure

 More Fed Help
 on the Way for
 Homeowners 

More FHA-insured mortgages to be available for strapped consumers

Apr 9, 08 3:15 AM CDT
(Newser) - Homeowners struggling to avoid foreclosure are about to get a boost from the Federal Housing Administration. The FHA commissioner is expected to announce plans to expand an aid program that will allow borrowers saddled with negative equity to write down part of their mortgages and refinance their homes with cheaper... More »

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subprime mortgages • foreclosure • Federal Housing Administration • credit crisis • homeowners • subprime crisis • Brian Montgomery

Senators Cut Tentative
Deal on Housing

Package includes tax credits, $4B in grants, $100M for homeowner counseling

Apr 2, 08 5:14 PM CDT
(Newser) - The Senate today struck a deal on a package of legislation intended to soften the impact of the foreclosure crisis, the New York Times reports. The bipartisan measures include $4 billion to help local governments buy foreclosed properties and $100 million for homeowner counseling. Harry Reid called the tentative deal,... More »

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Harry Reid • Mitch McConnell • foreclosure • Federal Housing Administration • housing crisis

Updated

Bush Housing Secretary
Steps Down

Jackson out after clashes with Congress, charges of favoritism

Mar 31, 08 9:48 AM CDT
(Newser) - HUD Secretary Alphonso Jackson resigned this morning, after a series of accusations of political favoritism. The departure marks a setback to the Bush administration's efforts to stem the housing crisis, the Wall Street Journal reports, as Jackson has been a central player on key initiatives. He cited family reasons in... More »

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Bush administration • Henry Paulson • Federal Housing Administration • Housing and Urban Development • housing agencies • Alphonso Jackson

 Bush Readies Mortgage Bailout 

Aid plan would back new loans for homeowners in 'upside-down' mortgages

Mar 29, 08 6:48 AM CDT
(Newser) - Homeowners facing foreclosure could soon be getting a helping hand from the Bush administration, the Washington Post reports. Details are being finalized on a plan that would see portions of loans forgiven for people who now owe the bank more money than their house is worth. The remainder would be... More »

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Ben Bernanke • subprime mortgages • Henry Paulson • foreclosure • mortgage • loans • Federal Housing Administration • Hope Now Alliance • housing crisis • negative equity • George W. Bush

Feds Must Ward Off Stagnation, Clinton Says

Says buying mortgages might be necessary to avoid prolonged skid

Mar 27, 08 11:15 AM CDT
(Newser) - The government should step into the mortgage mess on a broader scale, Hillary Clinton told the Wall Street Journal yesterday, suggesting monetary policy alone can’t ignite a recovery and warning that procrastination could lead to stagnation similar to Japan’s weary economy. Clinton said the Federal Housing Administration should... More »

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Barack Obama • Hillary Clinton • John McCain • Federal Reserve • Henry Paulson • US economy • Federal Housing Administration • credit crisis • subprime crisis

Feds Boost Mortgage Limits

Ceiling on loans backed by Fannie Mae, Freddie Mac goes to $729K in 70 counties

Mar 6, 08 6:10 PM CST
(Newser) - Government-backed mortgage guarantors Fannie Mae and Freddie Mac can now back loans up to $729,750, the Wall Street Journal reports, after the Federal Housing Administration put into effect that provision of the federal economic stimulus package today. More than 70 counties in the US are subject to the new... More »

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Federal Reserve • Freddie Mac • Fannie Mae • Federal Housing Administration • liquidity • loan limit

Depression-Era FHA Tries to Save Mortgages

Long-sidelined agency now a central player
in the credit crisis

Mar 6, 08 1:00 PM CST
(Newser) - It’s been a while since the Federal Housing Administration was relevant. But now policymakers are counting on the Depression-era agency, which mostly insures mortgages, to once again solve a housing crisis. FHA-insured loans are swiftly becoming substantially cheaper than their Fannie Mae or Freddie Mac backed counterparts. “The... More »

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housing market • Freddie Mac • Fannie Mae • Federal Housing Administration • housing crisis • economic stimulus package • subprime crisis • mortgage insurance • FHA • FHA mortgage • Great Depression

Bush Spars With Senators Over Housing Fixes

Democrats and Republicans push to go further; feds don't want 'bailout'

Feb 27, 08 11:56 AM CST
(Newser) - Congressional Democrats are pushing for new bankruptcy rules to help homeowners suffering from the mortgage crisis, the Washington Post reports—though the White House says it will veto any plan that could hurt lenders and send mortgage rates upward. Democrats say enough Republicans from hard-hit states could join them in... More »

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Senate • Arlen Specter • mortgage • Mortgage Bankers Association • housing • Federal Housing Administration • subprime crisis • Richard Durbin

Senate Votes
to Aid At-Risk Homeowners

Bill, approved 93-1, would allow feds to back refinanced loans

Dec 14, 07 4:44 PM CST
(Newser) - In an attempt to quell the ongoing housing crisis, the Senate approved a bill today that would allow the Federal Housing Administration to back refinanced loans for the thousands in danger of defaulting on mortgages. The bill, which passed 93-1, also repositions the FHA as an attractive alternative to subprime... More »

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Charles Schumer • Senate • Harry Reid • subprime mortgages • Federal Housing Administration • refinanced mortgages • housing crisis

House Votes to Tighten Controls on Lenders

But Senate deadlock could keep bill tied up for months

Nov 16, 07 4:29 AM CST
(Newser) - The House has passed a bill intended to protect mortgage borrowers by imposing stricter regulations on lenders. But it's unlikely it will become law before the new year, given the Senate's problem passing a less controversial bill that also aims to mitigate the subprime lending crisis. The House measure bars... More »

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Senate • subprime mortgages • House of Representatives • Federal Housing Administration • mortgage brokers • mortgage backed securities

Bush Promises Mortgage Relief

Fed agencies to offer aid to help Americans during credit squeeze

Aug 31, 07 2:52 PM CDT
(Newser) - The government will roll up its sleeves and aid homeowners battered by the subprime mortgage crunch, but it will forsake “speculators” trying to exploit the crisis, President Bush said today. The FHA will step in and help delinquent borrowers avoid foreclosure by refinancing at lower rates, but experts predict... More »

MORE ABOUT:
housing market • subprime mortgages • foreclosure • home sales • global economy • US economy • Freddie Mac • Fannie Mae • Federal Housing Administration • private lenders • home resales • homeowners • borrowers • George W. Bush

1 - 20 of 23 Stories | 1 2 Next >>


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