Seeking Alpha

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

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).
Comments (3)
  • Paulo Santos
    , contributor
    Comments (17878) | Send Message
     
    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
  • minecanary
    , contributor
    Comments (411) | Send Message
     
    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
  • Paulo Santos
    , contributor
    Comments (17878) | Send Message
     
    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
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|