President Obama has directed a small team of advisers to develop a proposal that would keep the government playing a major role in the nation’s mortgage market, extending a federal loan subsidy for most home buyers, according to the Washington Post.
The housing industry gave mixed reviews to the Obama administration's proposal to sell tens of thousands of foreclosed properties owned by government-backed entities and then convert them to rentals, reported the Wall Street Journal.
Sales of new homes beat expectations for May, but are still at historically low levels, according to the U.S. Census Bureau. May sales were at a seasonally adjusted annual rate of 319,000, 13.5 percent above May 2010's record low.
The Obama administration’s long-awaited proposal for reforming the U.S. mortgage market calls for shuttering both Fannie Mae and Freddie Mac over a period of five years or more. The two agencies, along with the Federal Housing Administration, currently
Under a new mandate from the Federal Housing Finance Agency, Freddie Mac and Fannie Mae will stop providing mortgages on homes that have home resale fees. The fees, also known as private transfer fees, are when the owner pays a percentage of the sales pr
Fannie Mae has started testing a foreclosure-prevention program in Florida that is designed to bring banks and troubled borrowers together earlier. The idea behind the program is to get banks and borrowers to negotiate mortgage modifications and other al
