The American Banker reported details of Secretary Donovan’s Senate Banking Committee hearing statements (Kevin Wack).
FHA Acting Commissioner Carol Galante wrote a Washington Post LTE – The FHA is part of the solution to the housing meltdown.
HUD officials advised that the foreclosure-to-rental program can help reduce credit losses and stabilize home values (Associated Press).
The Wall Street Journal reported quotes from Elizabeth Duke’s (Federal Reserve Board of Governors) testimony – housing market issues “are important factors in the Federal Reserve’s various roles in formulating monetary policy, regulating banks, and protecting consumers of financial services.”
Also, Attorney General Kamala Harris requested that Fannie Mae and Freddie Mac pause in processing foreclosures (Los Angeles Times).