Mortgage giants GSEs in limbo: In housing, a dangerous policy vacuum grows.

Mortgage giants GSEs in limbo: In housing, a dangerous policy vacuum grows.
Feb. 7, 2010 — The Washington Post

THERE IS NO END in sight to the federal bailout of Fannie Mae and Freddie Mac. President Obama's fiscal 2011 budget proposal said as much in a few phrases that promised nothing more definitive than continued "monitoring" of the two mortgage giants, which have been operating since mid-2008 in the legal and organizational limbo known as government "conservatorship." The administration had said its plans for definitive reform could be expected "at the time of the budget," not in the budget itself, so technically this doesn't count as a broken promise or a blown deadline. Still, as the two agencies' chief regulator, Edward J. DeMarco, gently reminded congressional leaders on Tuesday, conservatorship was intended as a "timeout" during which policymakers could reinvent the entities. With an election year upon us, that timeout is looking more and more like a cop-out.

Short sales on homes rise in Marion County
Feb. 7, 2010 — Ocala.com

Tom and Lori Bennett thought they had found their dream house. But now they are a statistic, among the thousands of Floridians who got behind on a mortgage and sold their home "short" - for just pennies on the dollar.

HAMP Permanent Modifications Picking Up: BarCap
Feb. 8, 2010 — Housing Wire

Modification rates picked up over December and January as servicers converted more trials into permanent modifications under the Home Affordable Modification Program (HAMP), according to a report from Barclays Capital.

Geithner Claims Mortgage Modifications a Success Despite House Probe
Feb. 8, 2010 — FOX News

Millions more Americans are facing financial security as a result of stabilizing home prices, Treasury Secretary Tim Geithner said Sunday, even though only about 66,000 people have benefited from permanent mortgage loan modifications aimed to prevent foreclosure, a figure that has resulted in a House panel investigation.

Builders Start to Look Up
Feb. 8, 2010 — The Wall Street Journal

Fewer write-downs and new-home order cancellations along with improved order rates are some of the most positive signs from home builders since the housing market began to roll over four years ago.