Non-Agency Lending: How to Attract Private Funding to a Riskier Market

The House Financial Services Committee conducted hearings on Wednesday on Government Barriers to the Housing Market Recovery, hearing from speakers representing three government agencies and four representatives from the private and quasi-private sector.

David Stevens, Assistant Secretary for Housing and Commission of the Federal Housing Administration (FHA) told the committee that the Obama administration feels it is essential to facilitate the return of private capital to the mortgage markets as the government scales back its current historically oversized footprint.  Stevens outlined the progress that FHA has made in restoring its capital reserves, improving loan quality, and reducing its exposure to risk but said Congress needs to pass comprehensive FHA reform legislation that enhances FHA's lender enforcement capabilities and risk management efforts.

Several others shared their perspective on attracting private investors back to the non-agency mortgage market.....

...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/02162011_housing_finance_reform.asp

Real Estate Agent Foreclosure Homes Realty Market Realty