The Federal Housing Administration has reached a “tipping point” in its mission of providing low- cost protection for homebuyers while trying to keep its insurance fund liquid, Commissioner Carol Galante said today.
Warren Buffett, the billionaire chairman and chief executive officer of Berkshire Hathaway Inc., said he expects Congress to resolve a stalemate over the U.S. debt ceiling before it seriously harms the country.
The Federal Housing Administration will take a taxpayer subsidy for the first time in its 79-year history after efforts to improve its bottom line failed to offset losses on loans backed during the housing bubble, according to three people familiar with the matter.
The chief executives of large banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. will meet with President Barack Obama tomorrow as Wall Street urges Congress to end the budget stalemate in Washington.
U.S. House Financial Services Committee Chairman Jeb Hensarling said he will advance a bill to eliminate Fannie Mae and Freddie Mac and remove the federal backstop from most of the residential mortgage market.