The Federal Housing Administration is on the brink of the next big government bailout. Potentially. Yet Commissioner Carol Galante insists there is strength ahead.
Yes, someone holds those Fannie Mae, Freddie Mac and Ginnie Mae mortgage-backed securities. And they don't usually take kindly to prepayment risks carried by a massive refinance plan.
In the words of housing consultant John Burns, bulk sales of REOs could be a "game changer" for the U.S. housing market. The Obama administration this summer floated the idea ...
