From Bloomberg: The Obama administration plans to set up an emergency loan program for the unemployed and a government refinancing effort in the next few weeks to help homeowners pay their mortgages after home sales dropped in July, Housing and Urban Development...
Hat tip to Joe Schmoe and Gary - from Reuters: Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to...
From HW: Guidance for dealing with Fannie Mae and Freddie Mac is not included in the recently passed Dodd-Frank Act, and Edward DeMarco, acting director of the Federal Housing Finance Agency, which oversees the government-sponsored entities (GSEs) says there is no...
Hat tip to shadash for sending this along, a story about the Mark condo overlooking Petco Park: Developer Norman Radow expected some thanks in April when he offered to repay a $35 million defaulted loan on a 32-story San Diego condominium project he had taken over,...
Darrell Issa, from Vista! From the WSJ: U.S. senators or Senate employees received 30 loans—far more than had previously been known—under a controversial lending program at Countrywide Financial Corp. that provided cut-rate terms to favored borrowers. The information...
Hat tip to Blue Streak for sending this along, though the MSM should figure out that the banks aren't "choked". There are plenty of homes ready to be foreclosed that are deliberately being postponed for months and years. Is anyone surprised that the national average...
The other cnbc.com report: For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg. According to the Congressional Budget Office, the losses could...
Hit tip to Daniel for this scoop: SACRAMENTO, June 23, 2010 – The California Housing Finance Agency (CalHFA) announced today that the U.S. Treasury Department has approved the Agency’s plan to use nearly $700 million in federal funding to help California families...
NEW YORK (CNNMoney.com) -- More than 1,200 prison inmates, including 241 serving life sentences, defrauded the government of $9.1 million in tax credits reserved for first-time homebuyers, according to a Treasury Department report released Wednesday. Treasury's...
Hat tip to SM for sending this along, from the AP: WASHINGTON (AP) -- The Obama administration has approved five state-designed plans to help homeowners as part of a $1.5 billion effort to assist areas slammed by the housing bust. Treasury Department officials, who...
