Southern California Home Financing Authority launches NEW Program!

The Southern California Home Financing Authority announces a NEW First-Time Homebuyer Program which starts today 2/20/13, with eHousingPlus as the Program Administrator.  The eligible areas of this program are all of Los Angeles and Orange Counties, excluding the City...

Geithner Vows to Press for Writedowns for Underwater Home Loans

U.S. Treasury Secretary Timothy F. Geithner, twice rebuffed, is vowing to try a third time to persuade the Federal Housing Finance Agency to allow principal forgiveness on mortgages backed by Fannie Mae (FNMA) and Freddie Mac. (FMCC) “I urge you to reconsider this...

Why Housing Affordability Is a Mirage

Home prices and mortgage rates have made monthly mortgage payments lower than at any time in the past decade. But housing isn’t any more affordable than it was five years ago, during the go-go lending days, after factoring in down payment requirements and other...

FHFA Proposes Rule for PACE Programs

For Immediate Release Contact: Corinne Russell (202) 649-3032 June 15, 2012 Stefanie Johnson (202) 649-3030 FHFA Proposes Rule for PACE Programs Washington, DC –As required by a preliminary injunction issued by the Northern District Court of California, the Federal...

HARP Refinances Surge in First Quarter; More Underwater

    HARP Refinances Surge in First Quarter; More Underwater Borrowers Helped Washington, D.C. – The quarterly number of loans refinanced through the Home Affordable Refinance Program (HARP) has nearly doubled since HARP 2.0 was rolled out in January, according to the...

State Takes Fresh Crack at Mortgages .

By NICK TIMIRAOS Fannie Mae and Freddie Mac will participate in a Nevada program that cuts loan balances for certain homeowners who are current on their mortgages and owe more than their houses are worth in what could be a model for other hard-hit states. Under a...