Senator Dodd to the rescue.can you speak FHA?

[Elliott]

From WSJ, 5/16/08,

His [Sen Dodd] bill would allow the Federal Housing Administration to expand its government insurance program to help more people refinance into federally backed loans. It would also overhaul supervision of mortgage-finance giants Fannie Mae, Freddie Mac, and the 12 Federal Home Loan Banks. The legislative package would likely mark the government's central response to the housing crisis.
....
The bill would have huge implications for Fannie Mae and Freddie Mac, companies that have endured several tough quarters and are emerging from sizable accounting scandals. The legislation would give their regulator more authority over the companies' portfolios and capital holdings. Both firms have a reputation in Washington for fiercely defending their powers, and Sen. Dodd described the companies as "aggressive" during the process.

 

[The Bob]

Money talks. We'll see.

According to records filed last week with the House of Representatives, the two companies remained among the most prolific corporate spenders on lobbying, despite controversy over their efforts to influence lawmakers

http://www.washingtonpost.com/wp-dyn/content/article/2006/02/19/AR2006021900874.html

 

[Mike Boyd]

Well, the temporary increase of FHA loan limits has increased my business, and from what I see so far, it won't cost the taxpayers a dime. In fact, it might increase their income from the MMI because the loans are larger. Every one that I get are sales. A couple have been on cheapie foreclosure properties but the bulk of them are sales above $500,000. 3 that I know of have been 2nd appraisals and the others will have 2nd appraisals done on them by some other appraiser. We ALL win! I can't cure the country's economic woes, only my own.