Jacksonville Real Estate Market

Jacksonville, Florida

‘Underwater Mortgage’ Refis Get Fresh Push in Congress

As of July, 22.4 percent of homeowners with a mortgage owed more than their home was worth, according to a new report from Lender Processing Services.

Fannie Mae Insider Takes Top Job With Lower Pay

Fannie Mae’s general counsel will become the mortgage giant’s new chief, sources say — and  will do so with less pay. Congress has slammed Fannie’s salaries in the past.

President Obama Proposes Mortgage Refinances for ‘Responsible Borrowers’

After several largely ineffective programs to help troubled borrowers and after fruitless attempts at budging the hard-line conservator of Fannie Mae and Freddie Mac, President Obama is proposing a brand new refinance program for borrowers who are curr…

Higher Loan Limits for FHA, Amid Higher Risk?

On the same day that independent auditors released a report showing the government mortgage insurer, the FHA, has even less cash reserves now than it did last year to cover potential losses, Congress is readying to vote on a measure that would increase…

FHA Auditors Predict Further Home Price Declines

The bad loans of the housing boom are still bad, but the new loans from today’s tighter mortgage market are so much better that they’re offsetting the trouble. That’s the message from the Federal Housing Administration in its annual report to Congress.

Higher Loan Limits Extended: Necessary Evil?

There wasn’t much fanfare, and it literally happened in the cover of night, but sometime after midnight Thursday morning, the U.S. Congress passed an extension of the increased Fannie/Freddie/FHA loan limits for high cost housing markets to a maximum $…

Reforming Fannie and Freddie: Is Now the Right Time?

In response to criticism by many in Congress that it should have added GSE reform to the financial reform bill, the Obama administration has repeatedly said the housing and mortgage markets are simply too fragile right now to weather the inevitable sto…

Housing’s Powerful Lobby Surges Ahead

You need look no further than this morning’s news. Congress, at the eleventh hour, passes an extension of the closing date on the home buyer tax credit. It was supposed to expire at midnight last night.

Fannie Mae Pushing Home Ownership—But Is That Right?

Some argue that a constant political obsession with the “ownership society” is what pushed this nation into the current housing disaster. Going back decades, presidents have pushed it and Congress, in turn, has helped open the financial doors to it.

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