FHA Head Touts Expansion of FHASecure Program Over (atlanta ga commercial real estate) Proposed Legislation
As reported by The New York Times earlier in the week, the FHA is
confronted with the possibility of the first deficit in its 74
year history primarily because of a single program in which
sellers, with the assistance of one of several non-profit organizations,
fund the buyer’s downpayment. This amount is then usually added to the
purchase price of the home. Loans funded under this program have suffered
high delinquency and foreclosure rates, draining FHA’s budget.
In his prepared remarks, Commissioner Montgomery asked Congress
to …
Fed’s Kroszner Says Foreclosures to Increase in ‘08, Urges FHA Modernization
Testifying before the House Financial Services Panel on Wednesday, he
said Fannie Mae and Freddie Mac need to increase their
capital and that he supports legislation on the two mortgage insurers and
the Federal Housing Administration.
Central Bank Watch: Week Saw Plenty of Rate Decisions but Few Surprises
This past week that saw three of the world’s major central
banks release interest rate decisions, all of which were in line
with what markets had been expecting. The Bank of Japan and European
Central Bank both held rates steady while the Bank of England eased by 25
bps to address downside risks to growth. Minutes from the FOMC’s March 18
meeting were also released this week.
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