2010 Budget Seeks FHA Funding Boost, HECM Will Need $798 Million Subsidy
May 14, 2009
The Obama administration is asking Congress for a substantial increase in budget authority to boost technology systems and anti-fraud efforts at the Department of Housing and Urban Development, aimed largely at updating the FHA mortgage insurance program. HUD is seeking $37 million in fiscal 2010 to launch a new Combating Abusive and Fraudulent Mortgage Practices Initiative...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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