News

  • Too Soon to Say FHA Will Need a Bailout by

    (NAR) -- Major news outlets have been talking about the Obama Administration possibly requesting $943 million from the U.S. Treasury this year to shore up the finances of the Federal Housing Administration. But whether the 80-year-old agency will actually need the cash infusion is far from clear.

  • Former Homeowners Get a Second Chance, as FHA Helps by

    (Bloomberg) -- Jason Schmitt lost his $90,000-a-year job on an oil rig in 2009. The bank repossessed his Tulsa home and a rental property, and the former U.S. Army combat engineer filed for bankruptcy. Last month, after moving with his family to his Missouri hometown, he bought the $75,000 three-bedroom home he had been renting with the help of a Veterans Administration mortgage that lets borrowers buy property only two years after a foreclosure. “I’m not embarrassed by saying we had a bankruptcy—it seems that so many people have fallen victim to losing their job,” says Schmitt, now a nursing recruiter for the U.S. Department of Veterans Affairs. “We’ve come back from this, and we are not going to give up on homeownership.”

  • Why Fannie and Freddie Should Exist in the New Mortgage Market by

    (PPI) -- They may be in federal conservatorship, but a funny thing is happening to the two “troubled” mortgage giants, Fannie Mae and Freddie Mac: They are making tons of money.

  • Fannie Mae Bailout Seen Profitable by 2023 in Obama Budget by

    (Bloomberg News) - Fannie Mae (FNMA) and Freddie Mac (FMCC), the U.S.-owned mortgage-finance companies, could return billions of dollars in profits to taxpayers who bailed them out in 2008, White House budget analysts said today.

  • FHFA Extends HARP to 2015 by

    The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program (HARP) by two years to December 31, 2015. The program was set to expire December 31, 2013.

  • Realtor.com: Broad-based Recovery Underway by

    While the median national list price rose by only a modest amount in March, all indicators suggest that a broad-based housing recovery is beginning to take hold across the nation as a whole. List prices are appreciating at a year-over-year basis in more than 100 of the 146 markets tracked by Realtor.com and nearly all are within reach of achieving positive year-over-year price growth by the end of the year. A successful spring market could move the entire nation into the black.

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