FHA – The Other Troubled D.C. Lender – Submitted by Bruce Krasting – … Rummaging through their web site I did come across something that I thought was interesting. FHA sets ceilings on its credit extensions based on geography. This make sense as RE values vary across the country. There are some predictable results and a few surprises. – Zero Hedge Blog

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FHA: Bailout Waiting to Happen? – Adam Sharp – Agency Gobbles Up Risky Mortgages in ‘09 – BearishNews.com 

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Ginnie Mae Accounts For 20% Of New Mortgages In 2009 – … Because regulators allow banks to treat Ginnie Mae mortgage back securities as risk free assets, they are attractive for banks to hold and banks are buying a lot of them (see attached chart).  … another example of how the government is subsidizing the housing market. Further, the ultimate costs will be borne by the federal government. … – Top Gun Financial Planning

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Senate Bill Extends Homebuyer Tax Credit for Six Months – By AUSTIN KILGORE – … The bill would not change anything on the tax credit except its expiration date, although at least one housing industry group is calling for an expansion of the credit and another, the National Association of Realtors (NAR), has urged an extension of the tax credit. … – HousingWire

and
Extra Credit – It’s time for Congress to cancel a temporary tax subsidy for homebuyers. – Washington Post Editorials
and
‘First-Time Homebuyer’ Credit May Cost Government up to $96,000 Per Home – Avery Goodman – … Both organizations say that a total of 1.8 million homes have been sold where the buyers qualify for the credit. So, the calculation is 1.8 million x $8,000 for a total cost of $14.4 billion, so far, for the entire program. If the NAR is correct, we must divide by 350,000, to get to the cost of each home sold. The calculation results in a conclusion that our government has bought each extra house for $41,142.86 per home. If NAHB is correct, and they have the better record of accuracy in these things, we divide by 150,000 extra houses. That means that the government is buying each extra home for $96,000.  … – Seeking Alpha