Sep 1st 2010 5:01PM
Beware, real estate speculators: Your advantage is waning. The Obama administration announced today that major banks have agreed to allow local governments and nonprofit groups to purchase foreclosed properties before private investors. Congress granted $7 billion to enable local officials to acquire such properties with... Continue Reading »
Aug 16th 2010 10:26AM
Back in April 2010, the Treasury and HUD issued a myriad of questions for the public to comment on regarding the future of the housing finance system. They received over 300 responses from everyone from members of the public to specialized think tanks. Now they are taking action: On Tuesday morning, the Obama... Continue Reading »
Aug 11th 2010 5:59PM
The Obama administration plans to funnel a total of $3 billion in aid to jobless homeowners having trouble making payments through various state agencies. Some $2 billion in payments will be made by the Hardest Hit Fund created through the Treasury Department to state Housing Finance Agencies (HFAs). The other $1 billion... Continue Reading »
Aug 9th 2010 3:09PM
Many of us never expected Fannie Mae and Freddie Mac to emerge from conservatorship, but now the death knell has sounded. By January we should know at least how the Obama administration wants to reorganize government support for the mortgage market, which will include the fate of the government-sponsored entities -- Fannie... Continue Reading »
Jul 26th 2010 11:47AM
Back in 2007, a relatively unknown Harvard Law professor named Elizabeth Warren warned that "for a growing number of families who are steered into...risky subprime mortgages...trust in a creditor turns out to be costly." In the months after the housing crash, Warren became a very public beacon of reason -- it's no wonder... Continue Reading »
