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 …
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 …
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 …
