national debt: FHA: You should be GRATEFUL for all the bad loans we made
- 11/13/09 04:52 AM
This article originally appeared on HousingStorm.com. The FHA made bad loans, at the urging of Congress and The White House, to prop up home prices and, in their own words, saving us from depression. The bailout will come. The bill will be enormous. HUD and The FHA believe we should be THANKING them. This is The FHA's "Let them eat cake" moment. The losses are picking up steam. The FHA's Capital Reserve Requirement has fallen to 0.53%, below the 2% minimum mandated by Congress. Defiantly, The FHA stated: FHA is making program and management changes designed to … (1 comments)
national debt: FHA and Fannie Mae: We'll never get our money back
- 11/09/09 10:44 AM
We, the taxpayers, are the only mortgage lenders left. And, we're losing a fortune. Fannie Mae and the FHA are giant money holes. Our leaders keep throwing billions into these bottomless-pits because it's for our own good. FANNIE MAE In the recent quarter, Fannie Mae reported a $18.9 Billion Loss and asks for another $15 Billion. From Fannie Mae Fannie Mae reported a net loss of $18.9 billion in the third quarter of 2009, compared with a loss of $14.8 billion in the second quarter of 2009. Including $883 million of dividends on our senior preferred stock held by the … (1 comments)
national debt: Why does our Government want housing to be expensive?
- 11/02/09 08:39 AM
Why does our Government want housing to be expensive? Is it for legitimate economic reasons? Is it political? Corruption? All of the above? Barney Frank says in The New York Times “I don’t think it’s a bad thing that the bad loans occurred,” he said. “It was an effort to keep prices from falling too fast. That’s a policy.” Before we dig deeper into the question, let's all agree that there is a natural level of home prices that would exist without excessive Government stimulating or subsidizing. Pick any neighborhood or look at the nation as a whole, and the monthly … (0 comments)
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