From RealTrends.com: As the Federal Housing Administration celebrates its 80th anniversary, the big banks are debating ending their lending relationships with the administration.
After attending a panel discussion for the FHA at the White House on Friday, National Association of Realtors President Steve Brown spoke highly of the FHA to HousingWire saying, “The housing market and overall economy benefits from the program. It not only brought to the market buyers who can now buy homes, but it also has brought many jobs. It is because of this financial program that the economy revived.”
But despite NAR’s positive outlook, this second-quarter earnings season is shaping up to show that the big banks do not feel the same way.