March 16, 2011 (Shirley Allen) Just days after the House of Representatives voted to kill the Federal Housing Administration’s (FHA) Short Refinance Program, Bank of America, JPMorgan Chase, and Citigroup have joined Wells Fargo and Ally Financial/GMAC as participants in the struggling program. Read more...
March 14, 2011 (Chris Moore) The House of Representatives voted 256 to 171 to kill the Federal Housing Administration's (FHA) Short-Refi program. The $8 billion dollar program was launched in September but came under heavy Republican criticism as an example of wasteful government programs that spend more to save a single borrower than it costs [...]
March 3, 2011 (Shirley Allen) Federal Housing Administration (FHA) Commissioner David Stevens testified before a House Financial Services panel, that is slated to vote on terminating the FHA Short-Refi and HAMP programs, twenty-three lenders had signed up to participate in the Short-Refi program designed to help underwater borrowers avoid foreclosure as of February 11. Read [...]
