Rebirth Of The Toxic Twins

Editorials 10/20/2014

Subprime Redux: Mel Watt’s easy credit crusade is now off and running. Fannie Mae and Freddie Mac’s chief regulator has officially lowered lending standards for the entire mortgage industry. Here we go again.

In January, we warned that Watt’s swearing-in as head of the Federal Housing Finance Agency would mark the start […]

U.S. Lawmakers Backtrack on Pledges by Expanding Federal Role in Mortgages

Clea Benson and Lorraine Woellert Bloomberg 12/28/2011

Washington lawmakers, who began 2011 with sweeping plans to shrink the U.S. government’s role in mortgage finance, are heading into 2012 after enacting policies that expand it.

An 11th-hour payroll tax cut extension signed into law last week will for the first time divert funds directly from Fannie […]

HUD to Give Communities, Non-Profits First Shot at Foreclosures

Meena Thiruvengadam Dow Jones Newswires via 9/1/2010

WASHINGTON -(Dow Jones)- The U.S. Housing and Urban Development department plans to partner with mortgage lenders to offer state and local governments and nonprofits a chance to buy bank-owned properties before they’re offered to private investors.

“Local communities will now get an exclusive option to buy foreclosed […]

Barney Frank, Predatory Lender

by Peter J. Wallison The Wall Street Journal October 15, 2009

Recent reports that the Federal Housing Administration (FHA) will suffer default rates of more than 20% on the 2007 and 2008 loans it guaranteed has raised questions once again about the government’s role in the financial crisis and its efforts to achieve social purposes […]

Fannie Mae, Freddie Mac, Now FHA

Investor’s Business Daily IBD Editorials 10/08/2009

Housing Mess: A huge, government-run housing agency shows massive losses and needs a bailout. Fannie Mae? Freddie Mac? No. It’s the Federal Housing Administration, in a bad case of financial-meltdown deja vu.

The FHA, which insures mortgages made by first-time buyers with low down payments, says it may need […]