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fha reform: More Sad News On FHA Reform - 04/04/08 12:52 AM
There was an interesting article in the Wall Street Journal which you can find here - "Uncle Subprime".
Take a look at the article. It points out how seriously misguided our lawmakers are, and how completely unaware they always seem to be of the unintended consequences of what they do.
If this current proposal makes it through, expect to see the FHA program swirl down the drain just like subprime lending did. I've been watching some of the hearings on these issues and it is astounding how misinformed and often just plain stupid our lawmakers are. Anyone who watched them in action with … (4 comments)
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fha reform: FHA Mortgage Reform: Still Waiting - 12/06/07 06:05 PM
Will the FHA modernization legislation ever be passed? I watched the President's press conference today and the thing that really stuck out to me was that the FHA Modernization bill which has been around since April of 2006 and it is still sitting - in it's second incarnation - in the Senate with no action.
According to CNN, when asked about the FHA modernization bill, "'It's difficult to get anything up for a vote in the Senate right now, including common-sense bills like this one,' said Jim Manley, a spokesman for majority leader, Harry Reid." It looks like the bill will not … (7 comments)
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fha reform: FHA Mortgage Reform: Is It Just Another Government Bailout? - 11/22/07 08:16 AM
I would like to expand a little on why I am in favor of raising the FHA limits even though I am in general, a rabid libertarian. We all talk about FHA being the new "sub-prime" but it isn't really that at all. And using FHA isn't really a bail-out at all. FHA doesn't even have default levels as high as the FNMA expanded approvals.There are three basic reasons that FHA is the best solution in this area.
FHA requires common sense examination of the "whole picture" of the loan. It doesn't just say you can have x number of lates in … (3 comments)
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fha reform: Senators Are Blocking FHA Vote - 11/21/07 09:26 AM
I get up this morning, after wondering all this time what had happened to the FHA Modernization Act, only to read that GOP Senators are blocking a vote on the bill! After it was rushed through the House by September 19, it reached the point where even national real estate columnist Kenneth Harney published a column asking anyone to please let him know what was going on.
The Senate Banking Committee cleared the bill to go to the full Senate within one day of it being passed by the House, but Senate Banking Committee President Christopher Dodd did not send it to … (3 comments)
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fha reform: What Has Happened To FHA Reform? - 10/15/07 10:46 AM
Every day for the last month, I’ve had people asking me when changes are going to be made to the FHA loan program. I’ve been trying urgently to get some more information. According to this column by nationally syndicated real estate columnist Kenneth Harney in Realty Times, we aren’t the only ones confused.
Where is FHA Reform “So Urgently Needed”?
I encourage everyone to follow up with their particular public officials. We can’t let the politicians grandstand and make announcements on this issue, then fail to follow through. My humble opinion is that this is one thing they can do to … (0 comments)
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Carl Pruitt - http://FHALoanAdvice.com
Buford,
GA
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