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  • Federal Housing Administration

    Focus on Eliminating Housing GSEs, Not Giving Them a Duty to Serve

    As Congress continues to delay shutting down the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, affordable housing advocates are ramping up the pressure on the federal government to fund “housing for the poor.” These groups may have good intentions, but their way of thinking is typical of the dangers … More

    How to Free the Housing Market from Government—and Lower Your Mortgage Payments

    President Obama said something truly great in his State of the Union Address this year. He told Congress: [S]ince the most important investment many families make is their home, send me legislation that protects taxpayers from footing the bill for a housing crisis ever again, and keeps the dream of … More

    Federal Housing Administration Is Undermining Responsible Housing Policy

    The Federal Housing Administration (FHA) has discrepancies in its loan portfolio that are unlikely to be resolved anytime soon and will continue to pose a burden to the recovery of the housing market. With little more than $32 billion in reserves, the FHA has an estimated $70 billion in future … More

    FHA: The Next Round of Housing Bailouts?

    Despite some efforts this year to improve its financial position, the Federal Housing Administration (FHA) will reportedly seek a bailout from the federal government to cover losses on mortgage loans it insures. The FHA will ask taxpayers for a $1.7 billion cash infusion (more than double estimates earlier in the … More

    Housing Finance Nominee: Expect Big Government Housing Policies Doomed to Fail

    President Obama nominated Representative Mel Watt (D–NC) as new chief regulator to the Federal Housing Finance Agency (FHFA), replacing the current acting director Edward DeMarco. Watt has strong support from liberals in both the House and the Senate as a longtime member of the House Financial Services Committee and advocate … More

    Report: HUD Insured Stimulus Loans to Tax Delinquents

    President Obama’s stimulus package subsidized home loans for individuals who already owed the federal government millions in back taxes, according to a new report by federal watchdogs. The report, released Wednesday by the Government Accountability Office, found that the Federal Housing Administration, a division of the Department of Housing and … More

    Morning Bell: End Crony Capitalism

    At 300 East 23rd Street in the exclusive Gramercy Park neighborhood of Manhattan, where to get into parts of the park you need a key granted just to residents, a new 98-unit luxury apartment complex has been built with an outdoor movie theater and panoramic city views. The problem is … More

    Morning Bell: This 'Something' Will Not Help Mortgage Mess

    Sen. Hillary Clinton yesterday threw her weight behind a plan by Rep. Barney Frank (D-Mass.) and Sen. Chris Dodd (D-Conn.) to authorize the Federal Housing Administration (FHA) spend $20 billion in taxpayer money to guarantee up to $400 billion in questionable mortgages. Considering Sen. Barack Obama is already a co-sponsor … More