FHA bailout pushes federal deficit to $22B

The tax changes are expected to reduce federal revenue by more than $1 trillion over the next decade, while a $300 billion spending deal reached by Congress in February could push the deficit higher."

The bill would give the FHA the power to force lenders to cover the cost of a defaulting loan, if the agency discovers a serious violation of federal lending standards, raising much needed cash.

The backdrop is a federal deficit that the Congressional Budget Office. from Treasury Secretary Tim Geithner about government bailouts of Wall Street and the auto industry, or pushes to subpoena.

Mortgage applications jump 21.7% on refinancing activity Mortgage Refinancing and the Concentration of Mortgage Coupons Paul Bennett, Frank Keane, and Patricia C. Mosser Because of the concentrated distribution of interest rates on outstanding mortgages, modest interest rate declines in 1997 and 1998 made refinancing a smart choice for a.

The tap into taxpayer bailout funds has significantly shrunk from the negative $13.5 billion projected in the actuarial report last fall. Nonetheless, many members of the committee are concerned about the long-term health of FHA and the difficult choices that lay ahead for the agency, particularly the deficit.

COMMITTED: Freddie Mac aims for 75% reduction in short-sale timelines COMMITTED: Freddie Mac aims for 75% reduction in short-sale timelines LPS: Foreclosure starts up 2.8% from one year ago coestervms disclosure calculator now available on Ellie Mae’s Encompass

The bailout of the FHA is making its way here during the holiday season. As we’ve reported many times the fha insured loan program was essentially a back door program of getting people into homes with ridiculously low down payments. FHA defaults were soaring to record levels as herd mentality buyers were entering markets to compete with flippers, foreign money, and Wall Street investors.

Big Dig’s red ink engulfs state Cost spirals to $22b; crushing debt sidetracks other work, pushes agency toward insolvency. estimates a yawning deficit next year in the authority’s operating budget, $70 to $100 million.. A Globe analysis of data maintained by the Federal Highway.

With the Federal Housing Administration drawing $1.7 billion from the Treasury into its Mutual Mortgage Insurance fund for the first time in FHA history, the balance of the fund ended up costing.

Help for Struggling Home Owners from FHA and Homeowner Bailout Plan. There’s also more help for unemployed home owners. As many as four million homeowners could get help from these expanded programs by 2012, with the federal government funding the program for up to $50 billion through the Troubled Asset Relief Program or TARP.

Senate Banking Committee Democrats fight for vote on Cordray nomination The Senate Banking Committee approved Cordray’s nomination as director of the federal Consumer Financial Protection Bureau by a 12-10 vote, with Democrats including panel member Sen. Sherrod.Home repossessions set to jump in 2012 ProSys appoints Michael Harris as a principal and partner justice designation OF QUALIFIED TECHNICIAN appointment. james michael Lank, James Christopher Leaman, Wayne Morris MacDonald, Charles. officer, director or associate of a person or company the principal business of which is the.. harris-gray associates corp named alberta Corporation.Bank repossessions jumped 11% in November month-to-month and rose 5% from November of 2011, according to RealtyTrac. That marks the first annual jump in just over two years.Ellie Mae acquires MortgageCEO S&P Case-Shiller home prices jump most since 2006 Obama administration extends Making Home Affordable Program until 2015 The obama campaign. workers (those making $19,388 or less for 2010), for example. For that group, the later retirement age would translate into as much as a 28.8 percent lower total benefit payment.S&P CoreLogic Case-Shiller Home Price Indices. The S&P CoreLogic Case-Shiller Home Price Indices are calculated monthly using a three-month moving average. Index levels are published with a two-month lag and are released at 9 am EST on the last Tuesday of every month. Index performance is based on non-seasonally adjusted data.ellie Mae is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency.

The Emergency Economic Stabilization Act of 2008, often called the "bank bailout of 2008," was proposed by treasury secretary henry Paulson, passed by the 110th United States Congress, and signed into law by President George W. Bush.The act became law as part of Public Law 110-343 on October 3, 2008, in the midst of the financial crisis of 2007-2008.