Donovan: Sequestration could devastate Fed housing programs

Donovan: Sequestration could devastate Fed housing programs

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Likewise, sequestration could harm the mortgage market. Many properties with Federal rental assistance contracts have mortgages insured and/or guaranteed by Federal entities-like HUD’s Federal Housing Administration (FHA) and USDA-or government sponsored entities (GSE)- i.e. Fannie Mae and Freddie Mac.

The more crucial question of whether to avert the devastating sequestration of federal funds and if so, how, remains unanswered. Continuing to loom over us all are the automatic cuts to discretionary spending called for in the Budget Control Act of 2011 that could still devastate affordable housing and homelessness prevention programs in the.

In April, job gains decelerated to 160,000 from a string of gains above. at a "gradual pace" in raising the short-term interest rates it controls, and market expectations (as measured by trading in.

Housing’s Second Leg Down our Finding Housing page (especially under the resources section). 8.. according to Federal Reserve data compiled by Bloomberg. The scaled-back rules mean that large swaths of bonds sold by.. Donovan: Sequestration could devastate Fed housing programs.

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Donovan: Sequestration could devastate Fed housing programs The more crucial question of whether to avert the devastating sequestration of federal funds and if so, how, remains unanswered. Continuing to loom over us all are the automatic cuts to discretionary spending called for in the Budget Control Act of 2011 that could still devastate affordable housing and homelessness prevention programs.

Donovan: Sequestration could devastate Fed housing programs Consequences from sequestration continue to reverberate even after December’s budget deal. The previous year’s cuts have deepened and prolonged our nation’s rental affordability housing crisis, a crisis that is described by Secretary of Housing and urban development shaun Donovan.

Ocwen shared appreciation program holds redefaults steady Today’s News Synopsis: The MBA reported a 2.3% increase in mortgage purchase applications while refis continue to remain about the same. Home prices are increasing at a faster rate due to the shortage of supply of new homes.

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March 2013 HUD Says Spending Cuts Could Devastate Housing Programs. U.S. Department of Housing and Urban Development Secretary Shaun Donovan told lawmakers Feb. 14 that automatic government spending cuts could destroy some federal housing programs and hurt low-income renters and families facing foreclosure, HousingWire reported.

Federal mortgage fraud task force subpoenas 11 banks The new federal task force led by New York Attorney General Eric Schneiderman sent subpoenas to the 11 largest financial institutions in the past few days as part of its investigation into possible residential mortgage-backed securities fraud. President Obama formed the task group and announced it during his State of the Union address Tuesday.

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