Federal Housing Administration

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Feds Must Ward Off Stagnation, Clinton Says

Says buying mortgages might be necessary to avoid prolonged skid

(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...

Feds Boost Mortgage Limits
Feds Boost Mortgage Limits

Feds Boost Mortgage Limits

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

(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...

Depression-Era FHA Tries to Save Mortgages

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

(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...

Bush Spars With Senators Over Housing Fixes

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

(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...

Senate Votes to Aid At-Risk Homeowners

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

(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...

House Votes to Tighten Controls on Lenders

But Senate deadlock could keep bill tied up for months

(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...

Bush Promises Mortgage Relief
Bush Promises Mortgage Relief

Bush Promises Mortgage Relief

Fed agencies to offer aid to help Americans during credit squeeze

(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...

Bernanke Vows to Combat Mortgage Mess

Fed ready to step in; Wall Street holds out hope for rate cuts

(Newser) - In his first comments on the subprime mortgage meltdown, Ben Bernanke today vowed the Federal Reserve “will act as needed” to contain the turmoil, preventing it from weakening the broader economy. The Fed chief pledged the central bank would “take additional actions” if necessary. “It is clear...

Bush to Unveil Bailout Plan in Mortgage Crisis

Reforms will help families keep their homes

(Newser) - President Bush will announce a rescue package for homeowners with subprime mortgages faced with foreclosure. The package will include a call for Congress to give the Federal Housing Administration more power to help borrowers keep their homes—and stricter enforcement of laws against predatory lending, Reuters reports.

Bush Ready to 'Push Hard' for Biz Tax Breaks

But he knows it's a tough sell

(Newser) - President Bush is considering a new package of corporate tax breaks in a bid to perk up Wall Street, calm volatile markets and send a message the economy is sound, the Washington Post reports. At the same time he rejected Democratic proposals to allow Fannie Mae and Freddie Mac more...

Stories 21 - 30 | << Prev 
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