The FHA is nearly broke. It appears that another massive bailout is on the horizon: The FHA insurance program is materially undercapitalized and will require a capital infusion of $50 billion to $100 billion in the next few years – even if housing markets do not deteriorate any further. The study was written by Joseph [...] Read more
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California AG Supoenas Fannie & Freddie
Redding, CA: California Attorney General Kamala Harris reportedly sent subpoenas to Fannie Mae and Freddie Mac, requesting information about their servicing, foreclosure, and property leasing actions in the state. The LA Times was the first to report the action Thursday, reporting comments from an anonymous source “familiar with the matter” but who “was not authorized [...] Read more
Steve Jobs Housing Legacy
Courtesy of Realestateinsidernews.com Redding, CA: Among the outpouring of eulogies, analysis and other post-mortem offerings about Steve Jobs, the one authored by his sister, novelist Mona Simpson, is the most poignantly rendered. While the world continues to debate the genius of Jobs and how he applied that gift in delivering life-altering personal technology, Simpson’s remembrance [...] Read more
