Affordable Housing Institute : US

With the fall of its CEO, CFO, and auditors, Fannie Mae may have hoped that its troubles are over — but it seems clear that the big beast’s weakness has emboldened its critics and started a process both regulatory, political, and to some […]

In what promises to be an ongoing top-to-bottom shakeup, Fannie Mae has fired its CEO, CFO, and auditors because:
The Securities and Exchange Commission found Fannie Mae had violated accounting rules and will need to restate earnings for the past four years. The company has said the […]

How much is a company’s good name worth? For Fannie Mae, we may be about to find out. As the largest Government Sponsored Enterprise, Fannie Mae has an enormous presence in US mortgage markets: Last week, the SEC issued a statement chiding Fannie Mae for significant accounting […]

HUD has now published a final regulation (called, in terms reminiscent of monasteries , a ‘rule’) allowing local housing authorities (who own and operate ‘public housing’, the US equivalent of European ‘council housing’) to evict families who have become too successful to live there any more:
HUD may […]

In an effort to preserve and renovate some existing properties, a New York City housing agency is making the unusual proposal of seeking to buy the mortgages from HUD :
“If we have the mortgage,” [Department of Housing Preservation and Development Commissioner Shaun] Donovan said, “we get to […]