La Jolla Real Estate, Del Mar real estate, Rancho Santa Fe Homes, Carmel Valley Real Estate, University City and
Downtown San Diego real estate, homes and condos for sale in California - Ruth Mills & the Mills Team, REALTOR.






Search the San Diego MLS
(includes all areas in San Diego County)



 April 03, 2009

Senate Testimony: the FHA, Essential to Housing Rebound
The primary source for much of the mortgage funding for many in America is The Federal Housing Administration. This agency plays a vital role in assisting in the stability of the housing market. This message was delivered to the Senate Appropriations Subcommittee on April 2 by representatives of the National Board of Realtors.
Lennox Scott, who is a member of the NAR's Real Estate Services Advisory Board, stated that without FHA financing, U.S. families would be unable to buy homes, while communities all over the nations continue to suffer from foreclosures which in turn lead to blight. Mr. Scott also shared his concern on behalf of the NAR that the FHA works to ensure the soundness and safety of their programs in light of the dramatic growth they have experienced over a relatively short period of time.

FHA's market share has increased to a total of 30%, a figure which is four times greater than that of levels from 2007. Mr. Scott called for the need to increase infrastructure and staff levels to ensure that increased responsibilities are properly met. Suggested improvements include: technology improvements and increased risk management.