Survey Question

Is it morally wrong for underwater borrowers to renege on their mortgages and walk away from houses (and loans) they can still afford but are worth less than what they owe?

Most Popular Stories

These were the past week's most frequently emailed stories on our site:

1. HMDA Data Show Minority Share of Mortgages Plummeting
2. No Hamp for You? Fannie Offers Hand to Investors
3. Banks Are Suing Realtors Over Foreclosed Properties
4. Lots of Prison Time Possible for 41 Charged with Bad Deeds
5. Biggest Financial Firms Will Be Hurt by Capmark Bankruptcy

Quote of the Week

Given the lack of a private secondary mortgage market, FHA, Fannie Mae and Freddie Mac are pretty much the only game in town.

Robert Story, chairman of the Mortgage Bankers Association.

Reprints

If you would like professionally prepared reprints of articles or permission to re-publish an article or post an article on a Web site, please contact Denise Petratos at 212-803-6557.

Assistance Limited for HFAs

By Peter Schroeder

Treasury Department officials are warning state and local housing finance agencies that the Obama administration's recently unveiled temporary bond purchase program is oversubscribed and that agencies will likely receive less assistance than they requested as a result.

The officials issued the warning late last week and asked the HFAs to identify their peak years of issuance from 2004 to 2008 for both single-family and multifamily issues to help determine how much they should receive under the relief program.

The scale-back comes after Michael Barr, Treasury assistant secretary for financial institutions, last month declined to put a dollar amount on the program and instead told reporters it would be sized to "meet demand."

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