Blog entries tagged lending

FHA Needs Funds: You Read It Here 6 Weeks Ago

Nick Will — Fri, 13 Nov 2009 00:30:26 +0100

Okay so reading this blog is like getting the news 6 weeks early. Granted, I thought it would make the news at the end of September, and here it is in today's Times:

The Federal Housing Administration said Thursday that its cash reserves had dwindled significantly in the last year as housing prices slumped and many of its borrowers defaulted on their mortgages.

Still, government housing officials stressed that the agency, which insures loans made by private lenders, Read More...

Will Congress Extend the $8,000 Home Buyer Credit?

Nick Will — Sun, 20 Sep 2009 21:35:12 +0100

The Associated Press is reporting that the administration and congress are undecided about whether to extend the First Time Home Buyer Tax Credit, which is set to expire November 30 of this year. The credit allows up to an $8,000 refundable tax credit on the purchase of a first-time home. It's been a very effective policy for the past year, key to improving economic conditions in the U.S.

From the article:

The credit is helping stabilize the housing market, but there arRead More...

FHA In The News Next Week: More Funds Needed?

Nick Will — Sat, 19 Sep 2009 15:59:24 +0100

From Dina ElBoghdady at The Washington Post yesterday and today. News about the critical FHA program this week will be that it likely needs additional funds from congress. The controversy is likely to have a flavor of the bail-out debate infused with how important the FHA loan program is to the recovery of the housing sector. From the articles:

The Federal Housing Administration has been hit so hard by the mortgage crisis that for the first time, the agency's cash reserves will drop belRead More...

Liberal Handwringing Gets It Wrong

Nick Will — Sun, 13 Sep 2009 14:18:49 +0100

Leftward liberals and rightward conservatives are both missing the mark when it comes to how they're framing economic issues. While some partisans of any stripe may have a roughly correct conclusion here and there, the reasoning involved is rarely enlightening for "pocket-book centrists" - a term for the majority of Americans simply concerned with living a comfortable and fair American dream. This morning, the much vaunted cultural critic Frank Rich writes in The Times that:

No less unRead More...