FACT SHEET: A Better Bargain for the Middle Class: Housing

[TBF]

16. Where is the part about the government-insured mortgages?

I've gone through this a couple of times -- http://www.whitehouse.gov/the-press-office/2013/08/05/fact-sheet-better-bargain-middle-class-housing

I must be missing it.

After watching my own mother struggle with Bank of America (thankfully we finally got it straightened out and she is re-financed in her home) - things like the hotline are a bigger deal than folks may realize. But the part about turning it all over to private finance is where you are going to find argument. We know the banks like BOA are ruthless and yet we are turning it all over to them? Makes no sense.

This ---

Core Principles for Durable, Fair Housing Finance (GSE) Reform:

Put private capital at the center of the housing finance system
End Fannie Mae and Freddie Mac’s failed business model so taxpayers are never again on the hook for bad loans and bailouts
Ensure widespread access to safe, responsible financing like the 30-year fixed rate mortgage
Support affordability and access for renters and homeownership for first-time buyers, in part by continuing the historic affordability role of Federal Housing Administration (FHA)

Why not expand the role of the FHA program rather than turning it all over to predators?