Wall Street Journal (03/06/08) P. A4; Hagerty, James R.
The Federal Housing Administration (FHA) could play a key role in the government's efforts to bring some stability to the nation's housing market. The FHA has taken over a larger share of the market now that Fannie Mae and Freddie Mac have imposed upfront fees on lenders to guarantee their loans and have increased down payments in areas where home prices are falling. The agency has not changed the terms for the loans it insures, which have quickly become the only alternative for borrowers who can swing just a small down payment. Earlier in the week, Federal Reserve Chairman Ben Bernanke called for "greater latitude" for the FHA on terms for insuring refinanced loans so it could "help more troubled borrowers."
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