Federal Housing Finance Agency
The justices sent the case involving Federal Housing Finance Agency back to a lower court for additional proceedings.
Notorious credit-monitoring companies might be able to weasel their way into the mortgage industry.
Dissolving Fannie and Freddie makes no sense for several reasons. There is no financing model that has yet been created to replace their securitization structure that in effect guarantees almost all conforming and Hi-Balance conforming loans, and which account for more than 60 percent of loan originations today.
Mortgage subsidies through federal agencies are the modern-day version of the Homestead Act. But unlike the land grants of the 19th century, government loan subsidies have proven to be a rather bad idea.
As voices across the ideological spectrum have come to recognize the need for serious reform of our housing finance system with a greater role for private capital, the nation's top housing regulator made an unfortunate revelation.
Underwater America: Will President Obama, Mel Watt and Wall Street Finally Do the Right Thing for Troubled Homeowners?
The Obama administration did too little, too late, to help troubled homeowners, who faced plummeting home prices and the risk of foreclosure. The most important thing they can do is get Fannie Mae and Freddie Mac to adopt principal reduction.
For those in the real estate finance and home building industry, the coming of Mel Watt as the newly inducted Director of the Federal Housing Finance Agency could not have come at a more propitious time.
Some in Congress and in the administration want to do away with Fannie and Freddie and hand over their portfolio to the private banking industry, but without the previous requirements that banks do a certain amount of business with low-to-moderate income individuals.