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The FHA will not participate in a REO-to-rental program similar to what Fannie Mae is doing,...

  • Thursday, October 4, 2012, 10:45 AM ET
    The FHA will not participate in a REO-to-rental program similar to what Fannie Mae is doing, says commissioner Carol Galante. A better solution to working through the 700K delinquent mortgages on the FHA books, she says, is to sell the paper. The aim is to offload 10K mortgages per quarter (by our math, that's 70 quarters to clear things out).
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This news story has 3 comments:

  •  
    It's even more impressive in years, 17.5 years ... (same thing as 70 Qs, but easier to vizualize).
    4 Oct 2012, 10:49 AM Reply Like
  •  
    I guess it's fair her kids will finish clearing the bad mortgages since they will end up paying for this debacle. She probably needs to forfeit her paycheck for that kind of leadership, though.
    4 Oct 2012, 10:49 AM Reply Like
  •  
    Making bad loans was policy, not an accident or an error. You can find statements by at least one Congressman stating this.
    4 Oct 2012, 10:51 AM Reply Like
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